Date: Nov 15, 2012 Author: Sarah Gantz Source: bizjournals (
click here to go to the source)
Baltimore nanotechnology firm Pixelligent Technologies is getting help from a federal research lab to develop its products.
Pixelligent signed a two-year, $500,000 Cooperative Research and Development Agreement with the federal Department of Energy's Argonne National Laboratory. The lab will work with Pixelligent to determine the effects of the company's nanocrystals on motor oil efficiency, Pixelligent CEO Craig Bandes said.
Under the agreement, Pixelligent and the lab will share the $500,000 cost, each paying about half.
Meanwhile, the company will be looking to grow its staff from 26 employees to 40-50 workers in 2013.
The company uses between two and seven nanopixels to make nanocrystals. The thickness of a sheet of paper is about 100,000 nanopixels. Pixelligent uses the nanocrystals as an additive in motor oil to reduce engine friction, which can improve gas mileage.
Bandes said he hopes the company's work with the Argonne labor will help bring the product to market within two years.
The company has previously used its nanocrystal technology to make electronic devices run faster.
Since moving to Baltimore in 2011, the company has more than doubled its staff from 11 to 26. The company's growth plan calls for a staff of 40-50 in 2013.
The company is currently hiring five new employees. Openings are in manufacturing, engineering, business development and administration.
