MADISON, WI – Following its latest successful round of fundraising, Pyran Inc. recently announced that it has received an additional $500,000 grant from the National Science Foundation (NSF). The additional grant further demonstrates confidence in Pyran as it continues to transform its technology into meaningful commercial solutions for a number of industries, including paints, coatings and adhesives.
The company has started construction to enable toll production of its first product, 1,5-pentanediol (PDO), a novel five carbon renewable chemical, at RPD Technologies in Crosby, Texas, and is now expanding its toll campaign scheduled for this fall to include engineering design data as the company pursues full commercialization.
“We remain squarely focused on our commercialization activities and revenue growth so that Pyran can continue meeting increasing customer demand for our high-performance, cost-efficient products made from renewable feedstocks using an environmentally friendly manufacturing process,” said Mel Luetkens, who was recently named Pyran CEO. “This additional grant supports our commitment to deliver commercial value and enhances our ability to expand the company’s product and technology portfolio.”
Pyran uses renewable feedstocks from crop resources, such as corn cobs, to make 1,5-pentanediol (PDO) – a key ingredient that enhances the performance of everyday materials, such as paints, coatings and adhesives. The company’s renewable 5-carbon products replace expensive, petroleum-based chemicals. Customers of PDO have been restricted from using the performance-enhancing product because petroleum-based capacity is constrained by co-product limitations. Pyran’s renewable-based, on-purpose production will enable customers to expand their businesses with better performing and more sustainable products. Investments and grants, such as the NSF grant, can help fund even larger volumes of PDO for Pyran’s customers, setting the stage for commercial production of PDO in the upcoming years.
To learn more, visit www.pyranco.com.