May 6, 2024 – Albuquerque, NM – Pajarito Powder, LLC was awarded funds through the State of New Mexico Advanced Energy Award Pilot Program. The program is a competitive state-funded grant that awards non-dilutive funds to proposals in advanced energy innovation and commercialization from New Mexico small manufacturers engaged in research and development that create manufacturing jobs in advanced energy The funds assist companies developing a unique product with strong growth potential.

Pajarito Powder is a developer and manufacturer of advanced electrocatalysts for hydrogen generation and fuel cells. The company’s materials are considered essential for the growth of green hydrogen production, through the use of their catalyst materials in electrolyzers. As an awardee, Pajarito Powder benefits from non-dilutive funding that supports further hiring and growth of the company’s primary product offerings.

The New Mexico Economic Development Department (EDD), through its Office of Strategy, Science and Technology (OSST), awarded $3.4 million in competitive grant funding to seven New Mexico companies in the inaugural round of the Advanced Energy Award Pilot Program.

The awards were announced at an event at the University of New Mexico Lobo Rainforest on May 3rd. Through this program, the New Mexico Economic Development Department cultivates economic-base businesses that create jobs, further development the tax base and import wealth to the state. The rigorous award process required applicant companies to provide projections of what they expect the company to look like in the next five years, including staff, revenue, and growth projections.