Startups to Watch: Ozark IC wins its first Department of Energy grant
by February 9, 2017 8:44 am 172 views
Ozark Integrated Circuits of Fayetteville has been awarded a Phase I $150,000 grant from the U.S. Department of Energy to apply its technology to geothermal energy exploration.
Ozark IC makes electronic circuits that can withstand harsh conditions and extreme temperatures. The grant money will be used to test data-capture systems in oil wells that can function in high-pressure and high-temperature environments under the surface of the earth, according to the DOE.
The company’s circuits can withstand temperatures of 500 degrees Celsius, almost 1,000 degrees Fahrenheit, and although this is Ozark IC’s first DOE grant, the company has received a Phase II research grant from NASA and multiple Phase I research grants from NASA and the U.S. Air Force. Ozark IC’s products are being tested for its capabilities to withstand the atmosphere of Venus.
CEO Matt Francis said with commercial contracts comprising a good portion of the business, the company projects it will get close to $1 million in revenue in 2017.
In 2016 Ozark IC created a design for a circuit that is now in mass production, Jim Holmes, chief technology officer said. Ozark IC recently fulfilled an order or the first 100,000 units. Holmes did not reveal the name of the commercial client, but said Ozark IC used its experience in low power design to make its batteries last 10 times longer than the previous model.