Released on May 20, 2008
Metalcasting industry suppliers UES Inc. and FOPAT LLC, both of Dayton, Ohio, recently were among eight companies to receive part of $2.7 million in grants through the Ohio Research Commercialization Grant Program.
The awards are intended to support Ohio small business enterprises as they commercialize new products within the next three years and to fund commercialization activities for technologies that have been technically validated through federal programs.
UES was recommended for $339,588 in funding for the commercialization of TitanCoat for automobile manufacturers, a surface treatment coating currently being commercially applied to die core pins to increase their life. The company projects the business will grow to $2 million with seven new jobs within two years, and after five years, revenues are expected to reach $5 million with a total of 12 jobs. The funding will be used to hire a business development person and increase commercialization efforts.
FOPAT was recommended for $349,992 in funding for the rapid commercialization of a new foam pattern material, a polymer which is intended to replace traditional wax in the investment casting process. The new polymer mold evaporates when molten metal is poured into the casting. FOPAT projects annual revenues of $3 million with 22 new jobs at the completion of the project and $15 million with 75 new jobs after five years. The funding will be used to hire a production and sales manager for production scale-up and generation of sales leads.