innovate arkansas

The Small Business Innovation Research grant, funded by the American Recovery and Reinvestment Act of 2009, represents Phase II of the DOE's investment in NanoMech. Its NanoGlide lubricant is considered a breakthrough invention and was born of nanoparticle research at the University of Arkansas.

NanoGlide entails nano-scale lubricant additives that significantly increase machine performance by reducing friction and wear in extreme pressure conditions. According to a Tuesday news press release, its applications include earth movers, wind turbines, helicopters, trucking fleets, cars and industrial machinery.

"This product provides lubrication capability that's never existed before," said Jim Phillips, chairman of the board for NanoMech. "Our customers tell us we've reinvented oil."

Phillips estimates that 5 to 7 percent of the country's gross domestic product -- roughly $800 billion -- is lost each year to friction wear and tear. The $1 million grant will get NanoGlide to mass production, where Phillips said it could have a substantial impact on that lost $800 billion.

"NanoGlide makes virtually any type of lubrication better," Phillips said. The nanoparticles are one-billionth of a meter in size, and when suspended in oil have a tendency to settle in to the "nooks and crannies."

Its environmental impact will be huge as well, Phillips notes, helping to decrease dependency on oil by making engines run more efficiently.

NanoMech employs 25 to 30 including interns. CEO Keith Blakely said the industry rule of thumb calls for one additional job for every $200,000 in revenue generated. Even if NanoMech captures just 2 percent of the market, he said, that amounts to $300 milion-400 million in revenue and potentially hundreds to even thousands of employees.

But that scenario isn't here yet, he acknowledged. For now, NanoMech will get to work expanding its Springdale facility.

"Our intent is to build [Springdale] as our center of operations," he said, noting that eventually the firm may have to look at global manufacturing partnerships to meet the demand of international customers.

NanoMech is a client of Innovate Arkansas and the Arkansas Science and Technology Authority.