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February 27, 2024 | Tom Ballard

Three area companies win small business awards

They are only recipients in the Volunteer State in the latest round of announcements from the Department of Energy.

Three area companies were among 50 projects across 17 states that shared $61 million in funding awarded by the Department of Energy under the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.

  • Veracity Nuclear LLC of Lenoir City was awarded a $200,000 Phase I SBIR for a project titled “High Fidelity Nuclear Reactor Core Simulation for Efficient Microreactor Design.” On its website, the company writes that it brings game-changing technology to bear on problems that remain unsolved by traditional modeling and simulation used by the nuclear industry. By integrating automation and design optimization within the high-fidelity capabilities of VERA, analyses may be performed with decreased uncertainties allowing the identification of excess conservatism and the conversion of recovered margins to plant economic benefit.
  • Cinco Research Corporation of Knoxville awarded a $250,000 Phase I SBIR for a project titled “Development of the Powder Metallurgy Supply Chain for Nuclear Components.” The company is focused on key challenges faced by those in the defense, energy, and sustainability sectors.
  • Cryomagnetics Inc. of Oak Ridge received a $1,250,048 Phase II SBIR for a project titled “Superconducting Undulator Test Cryostat Development.” Founded in 1983, the company specializes in superconducting magnets, cryostats, cryogenic accessories, and related electronic instrumentation.

They were the only awardees in Tennessee in the latest funding announced.

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