Recent News from Octet

Octet wins Innovation Fund B

Cleveland.com Feature

Ohio's Lt. Governor Visits

Octet presents at W.L.Gore

Octet wins Innovation Fund A

Octet wins STTR Grant

Octet Scientific Wins Follow-up Grant from the Innovation Fund America

Lorain County Community College and the Ohio Third Frontier Award a Second Round of Seed Funding for Products to Enable Sustainable Batteries

Cleveland, Ohio: May 1, 2020 - Octet Scientific has won a "B" Award from the Innovation Fund America to commercialize its proprietary chemical additives for rechargeable Zinc-based batteries.

Future technology needs batteries that are safer, cheaper, and more sustainable than today's lithium and lead-based options. Zinc batteries have the potential to meet these needs, yet this veteran energy metal struggles to compete in long cycle battery applications because it suffers from several problems related to recharging. Octet Scientific, Inc. is developing proprietary new electrolyte additives, specialty chemicals that are added seamlessly to Zinc batteries in low amounts to instantly solve Zinc's recharging problems. In 2019, the Innovation Fund awarded an "A" grant to Octet to prove its product in the lab and get first prototypes out to customers. Now, this "B" award from the Innovation Fund America Northeast Ohio will help support Octet while more customers around the country test its proprietary chemical products in the batteries of tomorrow. According to CEO Onas Bolton, "The Innovation Fund was here for Octet a year ago and without their support I am not sure our first samples would have made it out the door. Now, as we are getting positive feedback from those first customers, the Innovation Fund is here again for us with the support we will need to continue commerciallizing our products and building a business that will help Cleveland and North East Ohio make a critical impact on the future of energy storage."

Innovation Fund Northeast Ohio was founded by the Lorain County Community College Foundation in 2007 to fill the capital needs of Northeast Ohio startups at the earliest stage of development. It is the most active pre-seed fund for technology startups in the region and uses Ohio Third Frontier proceeds as its source of funding. To learn more about Octet's work, contact us at: info@octetsci.com

To learn more about the Innovation Fund and its program, visit: www.innovationfundamerica.org.

Innovation Fund America is a nonprofit partnering with community colleges to accelerate the growth of technology startups through early-stage funding and education. Community colleges are ideal environments for innovation and entrepreneurship. We help colleges leverage their mission, partnerships, and capacity to launch Innovation Funds. These funds provide entrepreneurs the capital, mentoring and education they need to launch and grow new companies, all while inspiring the next generation of innovators. We don't take any equity, so our money is entrepreneur friendly. And we're based at community colleges, so our approach is all about entrepreneur education. We fund technology startups led by entrepreneurs who want to create jobs in their communities and inspire the next generation of entrepreneurs. We only have one goal: to help startups succeed. That's why we work the way we do.




Octet and MAGNET Featured

With support from MAGENT, Octet is playing a critical part in unlocking better batteries.

Mar 1, 2020 - Octet Scientific, Inc. is developing something that will make a substaintial difference in our energy storage future, and it is doing it in Cleveland thanks to MAGNET, Ohio's Manufacturing Advocacy and Growth NETwork.

Making use of both MAGNET's versatile and affordable incubator space, as well as the business growth advice offered from their Iterator program, Octet is developing, testing, and sending out new additives chemicals that allow Zinc-based batteries to be more rechargeable so that they last longer and run more efficiently. Octet's novel chemical products help make future Zinc batteries like Nickel-Zinc and Zinc-Air a commercial reality to replace underperforming Lead-Acid and dangerous Lithium-Ion.

Read the full article at Cleveland.com.

To learn more about MAGNET, visit the Magnet Manufacturing Experience




Ohio Lieutenant Governor Jon Husted visits MAGNET and Octet Scientific.

Mr. Husted visited as part of MAGNET's new Manufacuting Experience ribbon cutting ceremonies.

Jan 28, 2020 - Octet Scientific, Inc. was one of the incubator companies selected to present at the unveiling of MAGNET's new facility. Lieutenant Governor, Jon Husted, and many others were treated to a video demonstration of how Octet's novel electrolyte additives can help make Zinc a more competitive energy storage metal.

Mr. Husted's visit came as Octet has begun delivering samples to a variety of battery customers who are developing new energy storage solutions based on economical, sustainable, safe, and plentiful Zinc metal. Zinc batteries are emerging as commercially viable options for things such as backup power, medical wearables, and grid storage. Future uses for Zinc batteries include portable devices, traditional automotive and electric vehicles. Octet's unique products will play a signifant role in seeing Zinc rise to meet these opportunities.

Octet's additive chemicals are enabling and enhancing components for Zinc batteries. With just a small dose, Zinc batteries last longer, run safer, and can be more efficienct to better compete with incumbent technologies like Lead-Acid and Lithium-Ion. Through their OctoLyte brand of additive products, Octet is helping to bring a safer, better, and more sustainable alternative to the market for small and large scale energy storage.

To learn more about MAGNET and its new facility, visit the Magnet Manufacturing Experience




Octet Scientific Selected as Finalist for the W. L. Gore Sustainability Pitch Contest

The Cleveland-based energy startup presented at the new Gore Innovation Center

Santa Clara, CA: May 16, 2019 - Octet Scientific, Inc. was been selected as one of five finalists for W.L. Gore's Advanced Materials Innovation Day. W. L. Gore & Associates, Inc., makers of Gore Tex® and other chemical-based products is hostsing its second annual Advanced Materials Innovation Day at its new Innovation Center in Silicon Valley.

Octet Scientific, Inc. has been chosen to present in its Sustainability Pitch Contest for their innovative work developing new additives to enable safer and greener Zinc-based energy storage.

To learn more about Octet's work, contact us at: info@octetsci.com

To learn more about the W.L. Gore Advanced Materials Innovation Day, visit: https://www.gore.com/innovation-center?view=events.

To learn more about the Gore Innovation Center in San Jose, Ca, visit: https://www.gore.com/innovation-center.


Octet Scientific Wins Grant from the Innovation Fund America

Lorain County Community College and the Ohio Third Frontier Award Seed Funding for R&D on Future Energy Storage in Cleveland

Cleveland, Ohio: Feb 13, 2019 - Octet Scientific has won an "A" Award from the Innovation Fund America to support its efforts to commercialize its proprietary chemical additives for rechargeable Zinc-based batteries.

Future technology needs batteries that are smaller, lighter, safer, cheaper, more efficient and longer-lasting than today's options. Zinc batteries have the potential to meet all these needs, yet this veteran energy metal struggles to compete in long cycle battery applications because it suffers from several problems related to recharging. Octet Scientific is developing proprietary new electrolyte additives, specialty chemicals that are dropped in to Zinc batteries in low amounts to seamlessly remove Zinc's recharging problems. This award from the Innovation Fund America Northeast Ohio will help Octet continue to develop its chemistry for enabling tomorrow's greener, safer and longer-lasting batteries while also providing educational opportunities for students in Northeast Ohio.

Innovation Fund Northeast Ohio was founded by the Lorain County Community College Foundation in 2007 to fill the capital needs of Northeast Ohio startups at the earliest stage of development. It is the most active pre-seed fund for technology startups in the region and uses Ohio Third Frontier proceeds as its source of funding. To learn more about Octet's work, contact us at: info@octetsci.com

To learn more about the Innovation Fund and its program, visit: www.innovationfundamerica.org.

Innovation Fund America is a nonprofit partnering with community colleges to accelerate the growth of technology startups through early-stage funding and education. Community colleges are ideal environments for innovation and entrepreneurship. We help colleges leverage their mission, partnerships, and capacity to launch Innovation Funds. These funds provide entrepreneurs the capital, mentoring and education they need to launch and grow new companies, all while inspiring the next generation of innovators. We don't take any equity, so our money is entrepreneur friendly. And we're based at community colleges, so our approach is all about entrepreneur education. We fund technology startups led by entrepreneurs who want to create jobs in their communities and inspire the next generation of entrepreneurs. We only have one goal: to help startups succeed. That's why we work the way we do.




Octet Scientific Wins Grant from the National Science Foundation

Small Business Innovation Research Program Provides Seed Funding for R&D on New Battery Technology

Cleveland, Ohio: Jan 1, 2018 - Octet Scientific has been awarded a National Science Foundation (NSF) Small Business Technology Transfer (STTR) grant for $225,000 to conduct research and development work on new chemicals to help commercialize Zinc-air batteries.

Zinc-air batteries are cheaper and safer than lithium-ion and have the potential to hold more than twice the energy, but they don't last as long due to complications during recharging. Realizing that the recharging step is very similar to metal electroplating, Octet Scientific and its partner Prof. Rohan Akolkar of Case Western Reserve University have drawn upon their experience in that field to attack the problem from a new angle: with a promising host of new chemicals inspired by additives used in the electroplating industry. The team will use this NSF funding to further develop their chemical additives to solve the recharging problem and provide a path to zinc-air batteries that can compete with lithium-ion.

"The National Science Foundation supports small businesses with the most innovative, cutting-edge ideas that have the potential to become great commercial successes and make huge societal impacts," said Barry Johnson, Director of the NSF's Division of Industrial Innovation and Partnerships. "We hope that this seed funding will spark solutions to some of the most important challenges of our time across all areas of science and technology."

"Zinc-air batteries could extend electric vehicle range, provide cheaper grid storage for renewables, and power longer-lasting small devices all while being cheaper and less dangerous than lithium-ion. We believe that we can overcome the few remaining hurdles by taking a focused approach to developing new additive chemistry specifically for this technology," says Octet Founder, Onas Bolton.

Once a small business is awarded a Phase I SBIR/STTR grant, it becomes eligible to apply for a Phase II grant (up to $750,000). Small businesses with Phase II grants are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales.

NSF accepts Phase I proposals from small businesses twice annually in June and December. Small businesses with innovative science and technology solutions, and commercial potential are encouraged to apply. All proposals submitted to the NSF SBIR/STTR program undergo a rigorous merit-based review process.
To read the project abstract, visit the NSF.

To learn more about Octet's battery work, contact us at: info@octetsci.com

To learn more about the NSF SBIR/STTR program, visit: www.nsf.gov/SBIR.

About the National Science Foundation's Small Business Programs: The National Science Foundation (NSF) awards roughly $200 million annually to startups and small businesses through the Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) program, transforming scientific discovery into products and services with commercial and societal impact. The non-dilutive grants support research and development (R&D) across almost all areas of science and technology helping companies de-risk technology for commercial success. The NSF is an independent federal agency with a budget of about $7 billion that supports fundamental research and education across all fields of science and engineering.