Gov. Rick Perry today announced the state is investing $1.5 million through the Texas Emerging Technology Fund (TETF) in FibeRio Corp. for the development of proprietary equipment for the fabrication of nanofibers.
“Texas’ thriving biotechnology sector has given rise to innovative research and technologies, thanks in part to investments through the Texas Emerging Technology Fund,” Gov. Perry said. “FibeRio’s technology will help improve the process in which nanofibers are made by improving upon current technology.”
FibeRio’s technology increases the speed and broadens the scope of nanofiber production. Fibers at the nano scale have unique properties that greatly broaden the material’s applications and capabilities, The company’s Forcespinning technology can produce nanowires, nanofibers and nanotubes without the use of electrostatic force, which allows for simpler and more versatile nanofiber production.
The TETF is a $200 million initiative created by the Texas Legislature in 2005 at the governor’s request, and reauthorized in 2007 and again in 2009. A 17-member advisory committee of high-tech leaders, entrepreneurs and research experts reviews potential projects and recommends funding allocations to the governor, lieutenant governor and speaker of the House. TETF has allocated more than $160 million in funds to 114 early stage companies, and $161 million in grant matching and research superiority funds to Texas universities.