Pajarito Powder, LLC was awarded an NMSBIR Matching Grant from the State of New Mexico. The NMSBIR is the latest in a series of new tools and reforms championed by Governor Martinez 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 extremely pleased to receive both the recognition for Pajarito Powder’s work on our Phase I SBIR, as well as the monetary award that allows us to further leverage our resources into additional progress toward becoming a New Mexico-based automotive supplier for an extraordinarily advanced product,” stated Pajarito Powder CEO & Chairman, Thomas J. Stephenson.
“This powerful program provides more opportunities for technology developed in New Mexico to be utilized for job creation in New Mexico,” said Economic Development Secretary Matt Geisel. “This investment strengthens our commitment to building a healthier economy and helping our homegrown companies succeed.”
The NMSBIR 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. This competitive grant will match Phase I SBIR awards up to $50,000. Phase II awardees are eligible for a match up to $100,000.
Pajarito Powder, LLC is a venture-backed startup, funded by the Verge Fund and others, 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.