May 20, 2008 - Columbus, OH - Lieutenant Governor Lee Fisher, Chair of the Ohio Third Frontier Commission, today announced that the Commission recommended more than $2.7 million in grants through the Ohio Research Commercialization Grant Program to eight Ohio companies to support commercialization of new and innovative technologies. The awards are contingent upon State Controlling Board approval.

"In Ohio, success and sustainability mean supporting new ideas and research as well as providing assistance in order to connect these innovative products with the public," said Fisher, who also serves as Director of the Ohio Department of Development. "These grants today illustrate our dedication to helping companies flourish at every step of their process, whether it be creative or commercialization."

The purpose of the Ohio Research Commercialization Grant Program is to support Ohio small business enterprises as they commercialize new products within the next three years, and to fund commercialization activities for technologies that have been technically validated through federal programs.

The Commission announced the following award for the Fiscal Year 2008 Ohio Research Commercialization Grant Program:

Spectra Group Limited, Inc., located in Millbury (Wood County), was recommended for $350,000 in funding for the commercialization of advanced photopolymers, which are polymers that cure or become solid when exposed to light. The project intends to commercialize these polymers for end-use applications in stereolithography, laser and digital light processing, and as a replacement for wax in investment castings. Spectra Group Limited anticipates that the project will create 16 jobs and more than $6 million in annual revenues by 2013. The funding will be used to upgrade its manufacturing capabilities by increasing its batch size and improving its quality control, and will provide the necessary raw materials to support extensive end-user evaluations in the target markets. The company also intends to use the funding to hire technical marketing partners to develop marketing strategies leading to new customer relationships.

The Ohio Research Commercialization Grant Program was created to improve the commercial viability of Small Business Innovation Research (SBIR), Small Business Technology Transfer (STTR) and Advanced Technology Program (ATP) research and development projects. The intent is to improve the ability of small technology companies to assess and realize the commercial potential of research projects and to promote the competitiveness of these companies through the augmentation of federal research and development funding.

Please contact Kelly Schlissberg at (614) 466-4133 or Kimber Perfect at (614) 466-2609 for more information. - ### -