Sep 23 2010
Abakan Inc.’s (Pink Sheets:ABKI) management is pleased to announce that the U.S. Army has recognized MesoCoat, Inc., an Abakan portfolio company, as one of the most successful companies in the Small Business Innovation Research (SBIR) program.
SBIR was established by Congress to provide small businesses and research institutions with opportunities to participate in government sponsored research and development. Success within the SBIR program is measured over three highly competitive phases selecting the best companies and teams developing and commercializing cutting edge technologies. MesoCoat has been singled out among SBIR awardees as an SBIR success story for its progress in attracting funding and customers from the private sector and non-SBIR government sources to transition its PComP™ nanocomposite cermet coating technology into viable commercial products and savings for the U.S. Department of Defense (DoD).
The U.S. Military spends an estimated $40 billion each year to address wear and corrosion issues associated with military equipment. Consequently, the U.S. Army, along with other branches of the U.S. military, is constantly searching for investment opportunities in the best new material science solutions. “Our investment in MesoCoat is further validated by the U.S. Army report which expressed considerable interest in the PComP™ nano-composite spray powder product line,” according to Robert Miller, Abakan’s CEO. “The Department of Defense could represent a multibillion dollar market for the application of MesoCoat products.”
The PComP™ nano-composite cermet thermal spray coating product line is intended to replace chrome plating for repairing and extending the service life of F-22, F-15, F-16 and F-35 aircraft and other DoD systems as the use of chrome plating has been restricted. MesoCoat is currently working with the Air Forces’ Propulsion Environmental Working Group, General Dynamics, and others to speed transition of the DoD to the higher performance, higher productivity PComP™ alternative. Andrew Sherman, MesoCoat’s CEO stated that “The Department of Defense and commercial industry now have a replacement for hexavalent chromium that is affordable, very environmentally friendly, and superior to the materials it replaces.”
Concern over the use of hazardous materials has led to legislation related to the use of certain toxic materials, including chrome plating. The hexavalent chrome replacement market by itself represents a $3 billion plus market opportunity for firms armed with acceptable alternatives. According to Curtis Glasgow, GM of MesoCoat’s PComP™ product line, “Companies not only have to be able to engineer new materials with appropriate properties that meet testing criteria to replace hexavalent chrome, they also have to be able to apply that material to part surfaces. We have spent the last year building and refining that capability to deliver a superior yet cost-effective product to the market place.”
Source: http://mesocoat.com/