Pajarito Powder recently completed work on the NM SBIR Matching Grant, awarded by the State of New Mexico. Awarded in the Fall of 2017, the NM SBIR is the latest in a series of new tools and reforms championed by the state of New Mexico, designed to grow and diversify New Mexico’s private-sector economy. Pajarito Powder, as a Phase I SBIR recipient, was eligible for the program.
“We are grateful to the State of New Mexico for creating tools for small, privately funded companies to leverage their technical validation, inherent in an SBIR, as a straightforward qualification for support,” stated Pajarito Powder CEO & Chairman, Thomas J. Stephenson adding, “It is very efficient and much appreciated.”
The NM SBIR Matching Grant is a competitive grant that provides matching funds to help science and technology-focused small businesses bring their research and innovation to the marketplace as products and services. The grant provides matching funds to New Mexico companies that have been granted federal SBIR awards, with matching funds from $25,000 to $100,000 depending on the number of SBIR awards a company has received.
Pajarito Powder completed the milestones specified and submitted a final report to the State in April, wrapping up the last commitment required by the contract.
Pajarito Powder, LLC is a venture-backed startup, funded by the Verge Fund and other investors, focused on developing next-generation fuel cell catalysts and catalyst supports for the automotive industry. Fuel Cell Electric Vehicles (FCEVs) are the industry recognized replacement for the internal combustion engine (ICE), emitting only water and providing similar use modalities as ICE vehicles.