Space Photonics Inc.

For Chuck Chalfant, president and CEO of Space Photonics Inc. of Fayetteville, the sky has never been the limit.

The company of 19 employees boasted revenue of $3.15 million in 2007, more than nine times its revenue in 1999, the year of its inception. SPI develops, markets and sells microelectronics and optical communication products for aerospace applications.

The product lines include fiber optic and laser communication devices, networks and protocols and anti-tamper and reverse-engineering-resistant devices.

When Chalfant started, he modeled it after a firm for which he had worked in California. “We copied the successful things and avoided the failures.” SPI’s target market for the anti-tamper and re-verse-engineering products consists of the U.S. Department of Defense, National Aeronautics & Space Administration and commercial aerospace companies. SPI crafts terrestrial laser communications products for the DOD and commercial communications companies. Chalfant said the Air Force is also a key customer that accounts for 30 percent of the company’s business.

The company has really struck a chord with Small Business Innovation Research proposals, Chalfant said. SPI writes proposals for other companies to 11 federal agencies, ranging from the DOD to the United States Department of Agriculture.

SBIR contracts start at $100,000, and SPI has acquired $9.7 million for other companies. The company is the all-time state leader in SBIR contracts and a recipient of a U.S. Small Business Administration Tibbetts Award, a national award for the best in SBIR achievement.

Despite heading a successful and steadily growing business, Chalfant noted the precarious nature of business development. “You have to be really careful in these transitional phases,” he said, adding that the company’s strategy is to “stay the course, remain private, continue to secure the intellectual property and grow the revenue base.”

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