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Procedyne Corp. is a technology based engineering and equipment manufacturing company specializing in high temperature thermal processing for the chemical processing and manufacturing industries. One major area of expertise of the Company is the development of processes requiring gas-solids reactions.
During 1989 to 1991, Procedyne successfully completed Phase I and Phase II programs which developed a high temperature process employing a fluid bed reactor to manufacture a material, tungsten carbide powder, having an extremely fine microstructure. The fine structure permits manufacture of parts which are more wear resistant than conventional materials thereby improves the performance of many important parts and mechanical devices.
As a result of the successful Phase I and Phase II SBIR programs supported by the DOD, Procedyne was able to accomplish a Phase III program without requiring additional funding from DOD. Procedyne founded with Rutgers University, New Brunswick, NJ, Nanodyne Incorporated, a Delaware corporation. Procedyne found and interested two experienced venture capital firms in investing $2.0 million to build a demonstration production facility in New Brunswick, NJ. This initial commercialization had the capacity to produce approximately 30 tons per year of this new material. The two venture capital firms were Ampersand, Boston, MA and CMEA, Baltimore, MD. The successful startup of this facility attracted an additional investment level of approximately $7.0 million by two large multinational corporations. The final step of commercialization was the buyout of the shareholders of Nanodyne by Union Minieré, a multinational Belgium corporation who invested additional funds and constructed a full commercial size facility on their plant site in North Carolina. This SBIR program supported by DOD accomplished the commercial development of a new patented metal powder, which results in improved devices in a number of commercial and military applications. This development added employment in New Jersey and North Carolina and the greatest part of this successful program was done by investment from the private sector.
PROCEDYNE CORP.
11 Industrial Drive
New Brunswick, New Jersey 08901
Phone: 732-249-8347
Fax: 732-249-7220
Website: http://www.procedyne.com
Email: mail@procedyne.com
