Advertisement
Dan Fox lists off the possible impacts his new business, Rushford Hypersonic, could have on a wide range of products.
 |
Dan Fox, Chief Executive Officer of Rushford Hypersonic, shows the interior of the Hypersonic Plasma Particle Deposition chamber Tuesday in Rushford. Fox says that the nanotechnology company plans to begin production in roughly one week at their location in Rushford.
(Photo by Melissa Carlo/Winona Daily News)
|
“Everybody wants something that’s more durable, that will last longer,” he said.
The nanotechnology company will soon start producing a hard, fracture-resistant product coating that Fox says will extend the life of many items. The chief executive officer also expects the business to produce jobs — up to 70 over the next four years. The prospect of this job growth has prompted several local groups to put up money to aid the business.
Fox started the company about 15 months ago when he learned that two patents for the process that creates the coating were available from the University of Minnesota. The company licensed rights to the patents, and early this year, the staff set up shop at 1000 Technology Drive inside a building owned by Connaughty Industries, a light manufacturing and farm equipment business.
The centerpiece of the workspace is a hypersonic plasma particle deposition chamber, an imposing piece of machinery that speeds particles up to Mach 8 and costs more than $1 million, Fox said.
The business is leasing about 1,000 square feet of space now, with plans to rent about 5,000 square feet in the coming months, he said. The additional space will be needed as contracts are signed and production ramps up.
Interest in the process, and its applications, is high across a number of sectors, including the medical field, he said. Fox talked to officials at the Mayo Clinic about using the coating to extend the life of implants used in knee replacements and other procedures, he said.
Several local groups have expressed support for the new business through financial incentives.
Rushford City Council members awarded a $500,000 business recovery loan — which is a matching loan that can be used only on equipment — on the promise of job creation in April despite some public opposition. The Southern Minnesota Initiative Foundation recently awarded the company $200,000 from its revolving loan fund.
