Johnson City-based Stone Mountain Technologies Inc. (SMTI) has won a $2.7 million grant from the U.S. Department of Energy (DOE) to help accelerate commercialization of its residential heat pump warm-air furnace replacement product.
According to the announcement (SMTI DOE Grant), the “innovative grant, a new approach for the DOE, creates a viable bridge over the so-called ‘valley of death’ – an historically treacherous phase in new technology development where new ideas often fail for lack of critical funding. SMTI will lead a team focused on addressing the product’s remaining technical and manufacturing issues as well as critical market questions that are important before final commercial release of the product.”
You can read our initial early 2015 article about SMTI here. Look for a more detailed update on the company and its work soon on teknovation.biz.