CRG was named to the annual Inc. 5000 list, considered one of the most prestigious rankings of the fastest-growing private companies in the U.S. The rankings are based on percentage revenue growth from 2018 to 2021, and companies must be U.S.-based, privately held, for-profit, and independent.
CRG saw 98% growth during this period, despite the coronavirus pandemic and other challenges. As of this year, CRG has been named to this list eight times – 2007, 2008, 2009, 2010, 2011, 2015, 2020, and 2022.
According to INC. magazine, the companies on the 2022 Inc. 5000 list have “demonstrated resilience amid supply chain woes, labor shortages and the ongoing impact of Covid-19.”
The Miami Valley area saw 11 companies make this year’s annual list.
CRG’s eAviation spinoff, Lectratek, was one of 19 finalists in the Urban Air Mobility Challenge selected to pitch their capabilities on September 28 in Washington D.C. This will be an opportunity for Lectratek to pitch to representatives from government agencies, Vertical Lift Consortium representatives and members, and leading corporate partners for a chance to earn their piece of $50,000 in prize money.
The Urban Air Mobility acceleration and awards program is sponsored by the Vertical Lift Consortium, the nation’s leading organization rapidly transitioning innovative aviation technologies for the U.S. government. This Challenge is the first in a series of accelerator events aligned with industry, government and military needs and over $50B in Smart Mobility initiatives within the nation’s Infrastructure Law.
Lectratek will pitch and connect its technologies with leading corporate, investment and federal prospectors. Finalists will receive engagement and membership opportunities with the Vertical Lift Consortium, while competing for $50K in non-dilutive funding.
Cornerstone Research Group, Inc. (CRG), with support from licensing partners Kineticure, LLC and Heatcon Composite Systems, Inc., launched the Rapid Cure System (RCS)™ to accelerate the cure of bonding materials throughout production and sustainment life cycles. This makes the RCS a must-have for OEMs and MRO organizations performing in-field and depot repairs.
Successful development of the RCS was accomplished through the Air Force Small Business Innovation Research (SBIR) Program.
The patented RCS is a quick, portable curing system that utilizes safe, localized heating methods and includes multiple, independent control zones. RCS products permit a single user to perform several cure processes concurrently, increasing efficiency and reducing costs. In one use case the RCS can reduce ambient cure time from 24 hours to less than 4 hours, meeting needs driven by 5th generation aircraft.
For more information about RCS products or to place an order, visit Heatcon’s website.
Karman Space & Defense, backed by Dallas-based private equity firm Trive Capital, has partnered with CRG to acquire the MG Resin family of technologies formerly marketed through Mach 5 Materials. The acquisition of MG Resins represents a significant expansion of Karman’s core competencies in integrated composite systems for space and defense applications and assures their leadership in the carbon/carbon market.
CRG developed the patented MG family of resins to address the growing need for ultra-high-temp materials with higher char yields, improved processability, and reduced cycle times. CRG designed an innovative solution that enables the production of best-in-class, high-strength carbon-carbon parts at temperatures above 1200 °C.
Karman Space & Defense is one of the largest independently owned suppliers of mission-critical flight hardware and complex sub-assemblies to the space, missile, and hypersonic markets. They provide design and engineering, precision machining, large part forming, high-temperature and structural composite material processing, and sub-assembly services, while actively adding new capabilities in collaboration with customers.
Pat Hood, CEO of CRG, commented, “We are excited to partner with Karman and believe their set of differentiated capabilities, capacity and talented team makes them the right strategic partner to deliver the MG Resin value proposition to customers across the space, missile, defense and hypersonic supply chains. We believe joining forces with Karman will accelerate the commercialization of carbon-carbon technologies, and we look forward to creating value for customers.”
CRG has landed $206K in federal funding to develop a new solid-state transformer that aims to improve the resiliency of the nation’s power grid.
CRG is one of 259 grant recipients to receive a portion of the $53M total funding awarded by the Department of Energy (DOE) last week through its Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
With this funding, CRG will develop a solid-state transformer with an embedded digital twin for predictive maintenance, a technique that can pinpoint repair or replacement of electronic components nearing the end of their useful life. Predictive maintenance reduces the total life cycle costs of the installed system, ultimately reducing the cost passed on to consumers. Additionally, this technology will improve the resiliency of the grid by reducing power outages, which cost the U.S. economy $150B annually.
Once demonstrated, this technology will be capable of expanding to use in a wide range of products, including power conversion systems in electric vehicles and aircraft.
“Supporting small businesses will ensure we are tapping into all of America’s talent to develop clean energy technologies that will help us tackle the climate crisis,” said Steve Binkley, Acting Director of the DOE’s Office of Science.