Purdue startup continues business competition winning streak, brings home $65,000

Shane McGuire, from left, an MBA student in the Krannert School of Management, and Brandon Terry, a Purdue alumnus and postdoctoral research associate in Purdue’s College of Engineering, deliver the Adranos Energetics LLC winning business pitch in front of judges at the University of Oregon’s 25th New Venture Championship. The team received $25,000 in funding from the competition. (Jack Liu Photography)  Download Photo

WEST LAFAYETTE, Ind. – A Purdue-related startup, which is developing a new rocket fuel formulation that could make rockets used in military and space applications travel further, carry greater payloads and be safer for the environment, has won three business competitions in the last two months, accumulating $65,000 in prize money. 

Adranos Energetics LLC claimed top prize in the Gold Division Purdue Burton D. Morgan Business Plan Competition, first in the University of Oregon's 25th New Venture Championship and first in the graduate division of the University of Nebraska-Lincoln's Global New Venture Competition. Adranos received $30,000, $25,000 and $10,000, respectively. Most recently, Adranos was named a finalist in the California Dreamin' Entrepreneurship Competition. Although they didn't place, the company did receive screening invitations from two major angel groups in Southern California. 

Brandon Terry, a Purdue alumnus and postdoctoral research associate in Purdue's College of Engineering, and Chris Stoker, an Indiana University alumnus, co-founded the company. Shane McGuire, MBA student from the Krannert School of Management and Luciano Mozzone, an undergraduate in Purdue's School of Aeronautics and Astronautics, are also members of the team.

Adranos's competition-winning innovation aims to provide a more efficient and environmentally friendly rocket fuel than the traditional fuel formulation that has been used for the last 60 years. The fuel formulation uses micro-explosive tendencies to produce much higher combustion efficiency and decreased flow losses, causing rockets to go farther while carrying more weight, something that has not yet been utilized in a propellant formulation.

The company is in the lab-scale testing stage and has shown increased performance and elimination of hydrochloric acid in small-scale propellant combustion.

Stoker credits much of Adranos's success in these competitions to the Purdue Foundry, an entrepreneurial hub in the Burton D. Morgan Center for Entrepreneurship, located in Purdue's Discovery Park.

"The Foundry and the entrepreneurs in residence we have worked with helped us identify a number of gaps in our presentation for the competitions. Their guidance helped separate us from the other competitors," he said. "We couldn't have won these competitions without them."

Stoker said the company plans to use the funding to cover technology development and fundraising costs, which will help the company move closer to its next stage.     

Technology used by Adranos Energetics LLC has been licensed through the Purdue Research Foundation Office of Technology Commercialization. Adranos Energetics is currently utilizing lab space in the Maurice J. Zucrow Laboratories, which is affiliated with the Purdue School of Mechanical Engineering and the School of Aeronautics and Astronautics. The company also receives assistance from Purdue Foundry. 

The company is currently seeking $4 million to $6 million in additional funding to reach the end of phase three, which would allow the company to prove tactical validation in actual missile systems or in other real-life, large-scale rockets, over the next few years.

Terry said winning these competitions have really strengthened their belief in their technology.

"Prior to competing in these competitions, I thought we had a great technology and decent pitch, but I was not sure how we would be viewed by outsiders," he said. "After winning against startups from some of the best universities in the world, it has become clear that we have a great shot at raising the capital we need to build a lasting company."

For information on other Purdue intellectual property ready for licensing and commercialization, visit http://www.otc-prf.org. For more information about available leadership positions, investing in a Purdue startup or licensing a Purdue innovation, visit http://www.purduefoundry.com.

About Adranos Energetics  

Adranos Energetics LLC, is a company that is focused on developing the next generation of propellants, explosives, and other energetic materials. Adranos is currently working on a cost-effective solid rocket propellant that is more efficient, more powerful and better for the environment than traditional solid propellants.

About Purdue Foundry

The Purdue Foundry is an entrepreneurship and commercialization hub in Discovery Park's Burton D. Morgan Center for Entrepreneurship whose professionals help Purdue innovators create startups. Managed by the Purdue Research Foundation, the Purdue Foundry received the 2014 Incubator Network of the Year by the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at foundry@prf.org

About Purdue Research Foundation Office of Technology Commercialization

The Purdue Research Foundation Office of Technology Commercialization operates one of the most comprehensive technology transfer programs among leading research universities in the U.S. Services provided by this office support the economic development initiatives of Purdue University and benefit the university's academic activities. The office is managed by the Purdue Research Foundation, which received the 2014 Incubator Network of the Year from the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at foundry@prf.org. For more information on licensing a Purdue innovation, contact the Office of Technology Commercialization at innovation@prf.org.

Purdue Research Foundation contact: Hillary Henry, 765-588-3586, hkhenry@prf.org

Source: Chris Stoker, cdstoker@gmail.com