Posted 11/20/2012 08:06 am
Updated 2 years ago
NanoMech Inc. of Springdale said Tuesday that it has been selected for an award from the U.S. Department of Energy to develop a nano-manufactured drop-in lubricant technology to reduce friction in engine components and help save billions of dollars annually in fuel and maintenance costs.
More than 450 companies competed for the award through the department's Small Business Innovation Research program, an initiative that aims to help small businesses to commercialize technological innovations.
NanoMech said friction is one of the major reasons for failure of vital engineering components and systems used in aerospace, military and industrial applications. It puts the annual cost of friction and wear-related energy and material losses at more than $700 billion, or 5 percent to 7 percent of the U.S. gross national product.
NanoMech's proprietary product uses chemistry at molecular scale to deliver advanced lubrication under "virtually all" operating conditions and extreme situations.
Called "nGlide," the additive has shown improvements in performance of grease lubricants by as much as 1000 percent, the company said.
"We appreciate the support of the Department of Energy in helping us advance the nGlide technology platform to include motor oil," James M. Phillips, NanoMech's chairman and CEO, said. "We are honored to receive this recognition and move forward our breakthrough technology, with unprecedented capability, which will increase machine and vehicle performance by enhancing durability, operability, and the life of components, while solving the global need to save fossil fuels."