MARCH 5, 2016 BY NATALIE SEPT
“Earlier this year, the Oregon State Legislature strongly supported the reauthorization of the University Venture Development Fund (UVDF). This fund was developed in 2001, and is an innovative way to ensure that great ideas benefit the state by providing up to 60% in university research to Oregon’s commercial marketplace. The commercialization of OSU-generated research is one of the university’s top priorities and the UVDF is the principal source of support to advance this endeavor.
To date, more than $1.1 million in donor support has helped invigorate nearly 20 OSU research projects with awards ranging from $1,000 to more than $180,000.
Of these initial companies supported by this beneficial funding, Onboard Dynamics truly shines.
Onboard Dynamics is an innovator in alternative refueling technologies. As CEO, Rita Hansen has said, “U.S. policymakers increasingly are evaluating how alternative fuels can impact our country’s overall energy use. With Onboard Dynamics’ unique natural gas compression technologies, fleet owners can save money and significantly reduce their greenhouse gas emissions by refueling with natural gas or renewable natural gas instead of traditional fuels.”
Founded to commercialize and further develop technology licensed from Oregon State University (OSU), and originally conceived by OSU – Cascades assistant professor, Chris Hagen, Onboard Dynamics has received financial support from the U.S. Department of Energy, ONAMI (Oregon Nanoscience and Microtechnologies Institute), Oregon BEST, and OSU, as well as multiple strategic partners and private investors including Portland Seed Fund.
Last year, Onboard Dynamics was selected to participate in the first-ever White House Demo Day, showcasing the company’s tremendous progress and potential future growth. More recently, the company was invited to exhibit its technology at the seventh Clean Energy Ministerial Startups & Solutions Showcase in San Francisco. With investors and governments around the world seeking solutions to drive faster deployment of clean energy technologies and policies, , this company is poised to set the standard for adoption of natural gas as a fleet transportation fuel in the U.S. and worldwide.
The company’s first commercial products will be available in 2017, adding to the growing list of companies spun off from OSU that are making a difference for our future.