PPC in the News: UNM Foundation makes venture capital play

Pajarito Powder has recently garnered additional funding from several sources, the sum of which will provide another year of product commercialization runway. STC.UNM’s contribution represents a particularly welcome addition, as it represents support for UNM transfer technology being brought to life in the form of lower cost, non-platinum fuel cell catalyst technology.

Albuquerque Business First’s Dan Mayfield provides a summary of STC. UNM’s recent investment in Pajarito Powder.

Article excerpts:

The University of New Mexico Foundation is now in the venture capital game.

The foundation has approved its first co-investment of $100,000 with Pajarito Powder LLC, a company using UNM technology to reimagine how fuel-cell motors work, Pajarito Powder CEO Tom Stephenson said.

For Pajarito Powder, the $100,000 investment will give the firm more time to grow and develop its technology.

For the full article, click HERE.