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Okeanos Technologies Wins Kentucky Science and Technology Corporation SBIR Matching Funds Grant

Union, KY (October 1, 2012) - Okeanos Technologies announced today that has been awarded a Kentucky Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) Matching Funds Phase 1 Grant from the Kentucky Science and Engineering Foundation (KSEF) to further the development of its innovative WaterChip™ desalination platform.

In conjunction with the University of Texas at Austin under a separate Sponsored Research Agreement, Okeanos is developing a microchip desalination technology as an ultra-efficient, less costly alternative to modern-day systems, whose macroscale processes requiring high costs and energy use have prevented their widespread adoption. Approaching the process from an electrochemical rather than physical angle, the WaterChip™ is able to purify water microliters at a time and reach world-record efficiency, allowing for off-grid integration in remote locations around the world.

Kentucky SBIR/STRR Matching Funds Grants are awarded to Kentucky-based and out-of-state companies who have already received a SBIR grant from the U.S. Environmental Protection Agency. Phase 1 recipients were evaluated and chosen based on their technical merit, commercial potential, company’s technical and business management team, budget, potential as a Phase 2 applicant and projected jobs and salaries to be paid during Phase 1. Furthermore, awardees must spend a minimum of 51% of the grant funds within the Commonwealth of Kentucky. The aim of the Kentucky SBIR/STRR Matching Funds Program is to foster job creation and economic development in Kentucky by attracting federal grant recipients and providing them with an incentive to continue their progress towards completion and commercialization.

About Okeanos Technologies
Okeanos was formed in 2012 to develop and commercialize a next-generation, ultra-efficient desalination technology. Our solid-state WaterChip™ platform harnesses and redirects the corrosive potential of seawater to separate salts from water with world-record efficiency. Our disruptive/transformative WaterChip™ platform is expected to enable a more distributive water distribution model and simultaneously address a number of profound environmental, economic and human health related problems. For more information about us please visit our website at www.okeanostech.com.

About KSTC SBIR/STTR Matching Funds Program
The Kentucky Science and Engineering Foundation (KSEF) was created under the Kentucky Innovation Act of 2000 to invest in research and development activity to promote innovation, new product development and commercialization, and to build a pipeline of new ideas and technologies that could add value to the scientific and economic growth in the Commonwealth of Kentucky. The Kentucky SBIR/STTR Matching Funds Program provides matching funds for Phase I and II federal grants for Kentucky based small businesses. The program is funded by the Cabinet for Economic Development (CED), Office of Commercialization and Innovation (OCI). For more information please see ksef.kstc.com.