Y-Carbon, Inc. is pleased to announce that they have been recognized as a
2010 success story by the Department of Community and Economic Development (DCED)
of the Commonwealth of Pennsylvania. Every year, DCED chooses a handful of signature
companies, communities and organizations throughout Pennsylvania to feature
as success stories. Y-Carbon's listing as a success story will be showcased
"Y-Carbon is the obvious great story of this year. Its breakthrough nanotechnology
has exciting commercial applications and the management team is first rate,"
said John Sider, DCED's Deputy Secretary of Technology Investment. "The
commonwealth has long been recognized as having one of the most robust technology-based
economic development strategies in the country and we're proud our programs
had a part in propelling a great company like Y-Carbon from its earliest commercialization
impulses. Its current successes bear witness to the value of the commonwealth's
strategy of offering a full continuum of capital and services for innovative
new companies that are the future economic drivers for Pennsylvania."
"We are ecstatic to be a success story of the Commonwealth of Pennsylvania.
This recognition is validation for the efforts of our staff, technology and
the support we have received from the state and elsewhere." said James
Horan, CEO of Y-Carbon. "We have built a successful nanotechnology business
based on our ability to custom made tunable nanoporous carbon for various applications."
added Ranjan Dash, CTO and co-founder of Y-Carbon.
Y-Carbon has transformed a lab-scale nanotechnology manufacturing process initially
developed at Drexel University to commercial production since being in business
actively in 2008. So far, Y-Carbon has been supported by state funds via the
Pennsylvania Nanomaterials Commercialization Center, The Nanotechnology Institute
of Ben Franklin Technology Partners, and federal grants such as SBIR grants
from the National Science Foundation, Department of Defense - Navy, and
the Department of Energy. Since 2008, Y-Carbon has grown from zero employees
to 9 employees occupying 3,500 square foot facility.
"We are proud to have Y-Carbon as one of our portfolio companies, said
Dr. Alan Brown, Executive Director of the Pennsylvania Nanomaterials Commercialization
Center. Y-Carbon is a perfect example of the type of innovative company which
we support - leading edge technology, great market idea and excellent
"The progress of the Y-Carbon's technology towards commercialization
has been substantial over the past year,, said Dr. Anthony P. Green, Vice President
of the Technology Commercialization Group: Life Sciences at BFTP/SEP and the
Ben Franklin Director of The Nanotechnology Institute (NTI). The contributions
of both the NTI and Ben Franklin Technology Partners/SEP to this progress is
exactly what these programs were designed to accelerate."
Y-Carbon was a presenting company at the recent Mid-Atlantic Diamond Ventures
- an affiliate of the Innovation and Entrepreneurship Institute at Temple University's
Fox School of Business.