University of Arkansas Receives Check From NanoMech

FAYETTEVILLE, Ark. – During the dedication of its new Nanoscale Material Science and Engineering Building, the University of Arkansas received a check for $375,000 from NanoMech, an innovative small business that uses nanotechnology to manufacture products with broad applications. The check is not a gift, but rather payment for intellectual property owned by the university and successfully commercialized by NanoMech.

“NanoMech is a vibrant example of what happens when research is nurtured and supported,” said Chancellor G. David Gearhart. “The commercialization efforts taking place within the Arkansas Research and Technology Park continue to play an important role in producing success stories like this one.

“Although the funds being transferred to the university are not directed to support this new building or to support our Institute for Nanoscience and Engineering, the check presentation today underscores the fact that nanotechnology is a growing research field and a growth industry in Arkansas. Its study and its commercialization are helping the University of Arkansas create jobs and opportunities in the state.”

NanoMech was founded in 2002 and is the commercial result of groundbreaking research by Ajay Malshe, Distinguished Professor of mechanical engineering and the Twenty-First Century Professor of Materials, Manufacturing and Integrated Systems in the university’s College of Engineering. Malshe and his research team’s breakthroughs in nano-materials and manufacturing include coating of nanoparticles, the first cubic boron nitride coating for machine tools, advanced nano-engineered lubricants and novel nano-electro-machining. As an internationally competitive nano-particle manufacturer, NanoMech’s products have applications in machining and manufacturing, lubrication and energy, packaging for fresh produce, biomedical implant coatings and strategic military applications.

“All four of NanoMech’s technology platform inventions are radical improvements over existing technologies,” said Jim Phillips, chairman and chief executive officer of NanoMech. “Our products TuffTek and nGlide, developed through tech transfer and commercialization with the University of Arkansas, address multi-billion dollar markets with the ability to rapidly replace inferior existing technologies worldwide and restore American leadership and competitiveness in manufacturing and energy.”

 “NanoMech demonstrates how university research can be commercialized to provide high-paying jobs in Arkansas as well as bring new technology to the marketplace,” said James Rankin, vice provost for research and economic development. “The university will continue the commercialization life-cycle by using the financial return to patent and license additional research.”

The payment is the result of a 2005 agreement between the university and NanoMech. As part of that agreement, the university licensed technology and patents to NanoMech so the company could commercially develop the technology. The agreement required NanoMech to pay the university royalties for sales or sublicensing fees covered by the patents.

“We’re excited to see NanoMech’s hard work pay off – and even more excited about what NanoMech and other university start-ups are already doing for the state of Arkansas,” said Lisa Childs, associate vice provost for research and economic development. “By employing our graduates at high wages, doing interesting work, these companies, we believe, will help make Arkansas a better place to live.”

NanoMech is just one of many companies started from research at the University of Arkansas.

A video about NanoMech and Malshe’s research may be viewed at http://www.youtube.com/watch?v=Qu9vQv2jO6Q.