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"A company started to commercialize technology developed at Drexel University has gotten funding, a new CEO and its first contract, making it a potential model for companies spinning out of colleges and universities.

Y-Carbon Inc. got $500,000 from three sources: the Nanotechnology Institute; the Pennsylvania NanoMaterials Commercialization Center, a consortium of four Pittsburgh-area companies; and a subcontract from the Baltimore-based Advanced Technologies unit of British defense giant BAE Systems for work funded by the Defense Advanced Research Projects Agency.

"[Y-Carbon Inc.] will be able to solve a large number of energy, environmental and health problems ... that don't have a good solution at the moment," said Yury Gogotsi, who led the team that developed Y-Carbon's technology and is the company's founder and chief science officer."

Source:  Philadelphia Business Journal at:  Nanotech firm is on a roll
NOTE: See Philadelphia Businesss Journal to locate the print version of this article since at present full electronic access to this article is not available.

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