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Developers of a basalt gas tank received a grant to continue work on their technology

The Oklahoma Center for the Advancement of Science and Technology (OCAST) has awarded $300,000 the team of researchers to continue development of a storage tank for low-temperature pressurized fuels.

Carrying out expert evaluations and updating business plans and feasibility studies of investment projects for the production of continuous basalt fiber, staple fiber and basalt composite products.

Infinite Composites Technologies (formerly CleanNG) has been developing the production technology of Cryogenic Composite Engineered Laminated — (CryoCEL) tanks since 2012.

Matt Villarreal, CEO and co-founder of Infinite Composites Technologies said that the very first sample of a linerless fuel tank called the MagmaCel had got a buzz and generated demand from all over the country. Some customers even wanted to order 10,000 tanks for class-A trucks at once.

ICT is developing their technologies through a research partnership with Dr. Ranji Vaidyanathan, Varnadow Professor of Materials Science and Engineering at the OSU-Tulsa Helmerich Research Center. According to the professor: “The ideal application for this project is for transporting fuels that require storage at low temperatures. The new tank will be more economical because of its lighter weight and ability to conserve fuel by preventing boil-off.” The company has raised about $1,5 million investment this year and has been awarded more than $500,000 in research grants since 2013.

As we reported earlier, the Fifth International Fair of Railway Equipment and Technologies EXPO 1520 saw an innovative railroad tank car designed for transporting molten sulfur, which was presented by ReylTransHolding MC LLC.

Companies: Composite-Expo, Infinite Composites Technologies

Countries: Russia

Industries: Automotive, Finance & Investment, Transport

Terms: Investment

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