Compounding leader PolyOne Corp. and Zyvex Performance Materials have been awarded a $4.9 million state grant to develop and produce carbon-nanotube composites.
The Ohio Third Frontier Commission awarded the grant to Avon Lake, Ohio-based PolyOne and Columbus, Ohio-based Zyvex. The two firms began working together on the carbon-nanotube project several months ago, officials said in a May 18 news release.
PolyOne's chief innovation officer, Cecil Chappelow, said that his firm is confident that our development efforts will yield a significant portfolio of next-generation thermoplastic materials based on carbon nanotubes.
Plastic materials created by the partnership are expected to be used in structural and electrically conductive applications.
The grant will allow us to accelerate our hiring plans and more rapidly introduce our technology commercially, Zyvex President Lance Criscuolo said in the release.
PolyOne ranks as North America's largest compounder, with annual global sales of about $2.7 billion. Zyvex is a technology firm founded in 1997 by investor James Von Ehr II. The business relocated from Texas to Ohio in 2007.
The Third Frontier Commission is Ohio's largest-ever commitment to high-tech research and innovation. The project launched in 2002 and will invest $1.6 billion over a 10-year period.
Ohio is home to several nanotech startup firms, such as Nanofilm Ltd. of Valley View, Five Star Technologies Ltd. of Cleveland and Ecology Coatings Inc. of Akron. In addition to PolyOne, compounder Ferro Corp. of Cleveland also uses the technology.
Several Ohio colleges have active nanotechnology programs.