Hyper Tech Research wins $3M federal grant
Hyper Tech Research Inc. was one of 20 companies to receive funding from the department’s National Institute of Standards and Technology, said U.S. Rep. Mary Jo Kilroy, D-Columbus. The grant is aimed at continuing work on the development of magnesium diboride wires, which can better conduct electrical currents.
Hyper Tech is looking to create an industrial-scale process for the wire making for magnetic resonance imaging and other applications, Kilroy said.
Hyper Tech, which got its start in 2001 at the TechColumbus incubator and is moving to a new facility next year, has received a $250,000 loan from Franklin County and more than $6 million from the state’s Third Frontier tech development program.
The company, which employs about 20 workers, has told Columbus Business First it plans to add employees and expects to triple its $2 million 2008 revenue by 2012.