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