Renewable clean energy technology startup and OSU spinout, eChemion, was recently awarded $175,000 in follow-on funding from Oregon BEST. To date, Oregon BEST has provided the company with $250,000 to develop its product, a chemical treatment technology that triples the life of batteries used to store renewable energy.
Oregon BEST grants in 2011 and 2012, supported OSU research that resulted in the company being spun out of the school. The most recent round of funding combined with funding from angel investors and the OSU Venture Development Fund will facilitate pilot level testing at OSU.
“This is a great example of how Oregon BEST’s funding for promising university research can ultimately lead to the formation of a new startup company in Oregon,” said Ken Vaughn, director of commercialization programs at Oregon BEST, in a statement.
eChemion is just one of the growing list of companies spun off from OSU that are driving innovation and economic growth in the state.
