ThermoAura is a Capital Region startup that manufactures a nano-enhanced thermoelectric material that’s 25% more efficient and costs 40% less to produce than competitor offerings. Founded in June 2011 by Dr. Rutvik Metha, a graduate of Rensselaer Polytechnic Institute (RPI), the company is continuing its successful transition from university laboratory to commercial manufacturing.
Recently, ThermoAura announced the opening of a nanocrystal factory in Colonie, an Albany suburb near SUNY Polytechnic Institute’s College of Nanoscale Science and Engineering (CNSE). In an industry that’s seen few advancements in 40 years, ThermoAura is using nanotechnology to revolutionize the production of thermoelectric materials, which convert heat to electricity or produce cooling from electricity.
ThermoAura’s new manufacturing facility on Railroad Ave. is capable of producing 10 tons of the material each year, and hopes to satisfy growing demand in the automotive, medical, and energy sectors. Within five years, the company plans to add 10 to 25 jobs to its current staff of seven, according to documents on file with the National Science Foundation (NSF), which awarded ThermoAura grants of $149,000 and $758,000.
The successful nanotechnology startup also won a $393,000 grant from New York State Energy Research and Development (NYSERDA), which advances innovative energy solutions in ways that improve the Empire State’s economy and environment. Eastern New York Angels (ENYA), which loaned ThermoAura $150,000 for seed funding, plans to provide the company with another $100,000 to finance expansion in 2015.
ThermoAura also used services provided by FuzeHub to locate and engage consultants who helped to design and equip the nanocrystal manufacturing facility, identify and address regulatory concerns, and secure necessary licensing. To learn more about this successful connection, download the ThermoAura case study from the FuzeHub website.
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