Small Business Innovation Research Program Provides Seed Funding for Commercialization

CHARLOTTE, NORTH CAROLINA, US, June 16, 2020 /EINPresswire.com/ -- EnergyXchain, LLC has been awarded a National Science Foundation (NSF) Small Business Innovation Research (SBIR) Phase II grant for $736,000 to commercialize the company’s research and development (R&D).

EnergyXchain was formed in May 2018 for the specific purpose of creating technology to transform the natural gas industry's midstream transaction processes. The company has partnered with a number of domestic corporate pipeline and distribution companies to create proof-of-concept transaction management and smart contract software for buying, selling and transporting natural gas. EnergyXchain has filed two provisional patents as a result of discoveries made during their Phase I SBIR R&D grant.

“NSF is proud to support the technology of the future by thinking beyond incremental developments and funding the most creative, impactful ideas across all markets and areas of science and engineering,” said Andrea Belz, Division Director of the Division of Industrial Innovation and Partnerships at NSF. “With the support of our research funds, any deep technology startup or small business can guide basic science into meaningful solutions that address tremendous needs.” 

“The NSF has been instrumental in getting this company off the ground, allowing us to pursue technology and intellectual property which may have far reaching application outside of the natural gas industry.” said Rob Norris, CEO and co-founder of EnergyXchain. “The Phase II award allows us to build a market-ready product, expand staff and create enterprise software; all of which are necessary steps to commercialization.”

Once a small business is awarded a Phase I SBIR/STTR grant (up to $256,000), it becomes eligible to apply for a Phase II grant (up to $1,000,000). Small businesses with Phase II grants are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales.  
To learn more about America’s Seed Fund powered by NSF, visit: https://seedfund.nsf.gov/

About the National Science Foundation's Small Business Programs: America’s Seed Fund powered by NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $1.75 million in funding to support research and development (R&D), helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. The NSF is an independent federal agency with a budget of about $8.1 billion that supports fundamental research and education across all fields of science and engineering. 

About EnergyXchain: EnergyXchain develops and provides patent pending transaction management, smart contract and blockchain-based solutions for industries having high-volume, complex, repetitive transactions and needing greater transaction efficiency, effectiveness, autonomy and security. Headquarters are on the campus of the University of North Carolina at Charlotte. For more information see: https://energyxchain.com/

Rob Norris
EnergyXchain
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