PolyOne Corporation (NYSE:
POL), a premier provider of specialized polymer materials, services and
solutions, and Zyvex Performance
Materials, company focused on developing nanotechnology to improve the properties
of composite materials, today announced they are recipients of a $4.9 million
grant from the Ohio Third Frontier Commission that will fund the further development
and production of carbon-nanotube composites. The highly-competitive Third Frontier
grant program was created to increase Ohio's high-tech research capabilities
by promoting collaborative innovation.
Dr. Cecil Chappelow, vice president, innovation, sustainability and chief innovation
officer at PolyOne said, "We are honored by this award and confident that
our development efforts will yield a significant portfolio of next-generation
thermoplastic materials based on carbon nanotubes."
Funding will be used to support ongoing development work initiated several months
ago under a joint development agreement between PolyOne and Zyvex Performance
Materials to produce carbon nanotube-filled thermoplastics for structural and
electrically conductive applications.
Lance Criscuolo, president of Zyvex Performance Materials explained, "This
grant underscores both companies' commitment to the technology and our certainty
that Zyvex Performance Materials and PolyOne have the expertise needed to drive
thermoplastic nanocomposites to the next level of performance. It will also
allow us to accelerate our hiring plans and more rapidly introduce our technology