Fri, Aug 29, 2014 23:27
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Texas Invests $250,000 in Digital Power Conversion Technology

Texas Business reports: DALLAS—The Texas Emerging Technology Fund (TETF) gave $250,000 to Cirasys Inc. for the commercialization of its digital power converters. The company is licensing patented technology from the University of Texas at Dallas, and will work with the university to commercialize the technology.

Cirasys' technology provides greater performance, faster response, and additional capabilities that are currently unavailable in traditional DC power converters. The technology uses algorithms in the design of intelligent DC-DC power converters used in products such as battery power management, LED lighting, and solar generation.

“How we generate, store and use electricity is rapidly becoming a critical concern across all industries,” Cirasys chief executive Paul Gregory said in a prepared statement. “While the act of power conversion is at the core of all electronic devices, it hasn't kept pace with the tremendous growth and advances in consumer and industrial electronics and renewable energy systems. The investment from the TETF shows that Texas is serious about fostering new technologies and companies in the global energy race, and will accelerate our commercialization efforts considerably.”

The TETF is a $200 million initiative created by the Texas Legislature in 2005 and reauthorized in 2007 and again in 2009. A 15-member advisory committee of high-tech leaders, entrepreneurs and research experts reviews potential projects and recommends funding allocations to the governor, lieutenant governor and speaker of the House. To date, the TETF has allocated more than $194 million in funds to 137 early stage companies, and over $194 million in grant matching and research superiority funds to Texas universities.