| Follow Us: Facebook Twitter

News

NextCAT locks down another $500K in seed capital with SBIR grant

NextCAT continues its seed-funding charge, locking down another nearly $500,000 in capital from a Phase II Small Business Innovation Research grant from the National Science Foundation.

The TechTown-based start-up is developing a new biofuel catalyst technology developed at the National Biofuels Energy Laboratory at Wayne State University. It has raised $700,000 in grant funding for its research and commercialization efforts. The start-up has raised a total of $1.3 million in seed capital from both public and private sources.

That funding has allowed NextCAT to steadily increase its staff. It now employs seven people and an independent contractor. It recently hired two lab assistants and plans to add more in the near future.

"We're currently recruiting for a couple of open positions," says Chuck Salley, CEO of NextCAT. "We expect to hire two people through this funding."

Source: Chuck Salley, CEO of NextCAT
Writer: Jon Zemke
Signup for Email Alerts
Signup for Email Alerts

Related Company

  • NextCAT
    440 Burroughs St
    Detroit, MI 48202 Website
    NextCAT is commercializing a series of catalysts for use in biodiesel production, developed at the National Biofuels Energy Lab at Wayne State University. The NextCAT solution allows producers to lower their overall production costs through savings