Press Room >> 2009 Press Releases FOR IMMEDIATE RELEASE Columbus – Governor Ted Strickland, Eric Fingerhut, Chancellor of the Ohio Board of Regents and recently appointed Chair of the Ohio Third Frontier Commission, and Lisa Patt-McDaniel, Interim Director of the Ohio Department of Development and Commission member, today announced that the Commission recommended $4 million in funding through the Ohio Research Commercialization Program to Velocys to support its commercialization efforts. The award is contingent upon State Controlling Board approval. “The Research Commercialization Program combines the strengths of companies and technologies to produce a partnership greater than any individual company could achieve,” Fingerhut said. “This collaboration will help Velocys bring an innovative product to market, accelerating growth and industry development for Ohio,” Patt-McDaniel said. 2009 Ohio Research Commercialization Program Velocys, Inc., located in Plain City (Union County), in collaboration with the Ohio BioProducts Innovation Center Wright Center of Innovation, Archer Daniels Midland Company, BP-Husky LLC Toledo Refinery, Albemarle Catalysts Company BV and NetJets, Inc., was recommended for a $4 million grant to apply the company’s microchannel process technology to hydroprocessing for transportation fuels. The project focuses on hydrocracking to upgrade Fischer-Tropsch fuels and heavy petroleum feedstock for jet and diesel fuel. Additional hydroprocessing application opportunities include the processing of edible oils, specialty and fine chemicals, and conversion of natural oils and fats to transportation fuels. Ohio Third Frontier is committed to expanding Ohio’s technological strengths and promoting commercialization that leads to economic prosperity throughout Ohio. Designed to build world-class research programs, nurture early stage companies, and foster technology development that make existing industries more productive, Ohio Third Frontier creates opportunity through innovation. The Ohio Research Commercialization Program advances scientifically unique applied research projects that can sustain the development of new innovative products within three years. Projects are to be collaborations among Ohio for-profit firms, Ohio higher education institutions, and Ohio non-profit research organizations and must be in the areas of advanced/alternative energy; advanced materials; instruments, controls and electronics; biomedical; and, advanced propulsion. ### Media contacts: Robert Grevey at (614) 466-6619
May 27, 2009
GOVERNOR, FINGERHUT, PATT- MCDANIEL, ANNOUNCE $4 MILLION IN
OHIO THIRD FRONTIER RESEARCH COMMMERCIALIZATION PROGRAM FUNDING
Velocys Awarded Research Commercialization Funds
or the Communications and Marketing Office at (614) 466-2609