Pajarito Powder, founded in 2012, has dedicated significant resources not only researching the commercial applications for non-platinum fuel cell catalysts, but has successfully commercialized its product line and is poised for full-scale manufacture. PPC is pleased to receive additional funding from STC.UNM, and will continue to aggressively pursue and develop all possible commercial applications for its technology.
Press Release Announcing STC.UNM Co-Investment Fund Committee Funding for Pajarito Powder, LLC:
Albuquerque, NM – December 4, 2014 The STC.UNM Co-investment Fund Committee recently approved funding for Albuquerque start-up Pajarito Powder LLC. The company is commercializing technology developed at the University of New Mexico. The early-stage investment will help the company move its technology toward product development and expansion of markets. STC’s investment in the company will be matched by a co-investment from an outside venture capital fund or angel group.
Chairman and CEO Tom Stephenson responded: “We are delighted to have the participation of the Co-investment Fund in our current round of financing. We feel that the Fund’s investment is a strong endorsement of our efforts to commercialize technology licensed from STC.UNM, and the cash will allow us to accelerate that process.”
As the technology-transfer and economic-development arm of the University of New Mexico, STC.UNM (STC) protects and commercializes technologies developed at UNM by filing patents and copyrights and transferring these technologies to the marketplace. We connect the business community (companies, entrepreneurs and investors) to these UNM technologies for licensing opportunities and the creation of start-up companies. STC’s vision is to play a vital role in New Mexico’s economic development and to be a leader in technology commercialization. Under the leadership of CEO Lisa Kuuttila, STC is substantially growing its program using the Rainforest model to develop an innovation economy in New Mexico. In 2013, STC was tasked by UNM with implementing its economic-development initiatives. To learn more about us, visit our website athttp://www.stc.unm.edu.