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 on NewPA.com.
"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 partnerships."
"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.