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LOWELL ߝ The Wall Street Journal recently announced the winners of the 2006 Technology Innovation Awards. The awards, offered since 2001, recognize novel technologies that are true breakthroughs in 12 fields: materials, environment, medical devices, software and others.
In a field of 600 nominees that included such industry giants as Sun Microsystems, Siemens and Pfizer, Polnox Corporation of Lowell was named first runner-up in the category of Materials for the invention of antioxidants that extend the life of organic materials by slowing the degradation process.
Polnox is a start-up company employing technology developed in UMass Lowell’s Center for Advanced Materials by Dr. Ashok Cholli, who is founder and CTO of the company. Says Cholli, “We are very pleased to receive this prestigious Technology Innovation Award from The Wall Street Journal. This is well-deserved recognition for the University and its administration where my work started and a great honor for the Polnox team of dedicated researchers.”
“We are encouraged by this award which has been won in such a highly competitive field as it is additional recognition of the high caliber of research being performed on our campuses and our ability to convert this research into innovative and commercially important products,” said UMass President Jack M. Wilson.
William Rosenberg, Executive Director of Commercial Ventures and Intellectual Property (CVIP) for UMass, added, “CVIP recognized the value of the technology and worked closely with members of the venture capital investment community to bring this start-up into existence.”
Polnox develops high performance antioxidants that improve the performance and shelf life of a wide range of materials including plastics and elastomers, oils, lubricants and fuels, processed foods and food packaging, and other consumer goods. Polnox is currently utilizing its technologies to help enable alternative energies, including biofuels and biolubricants. Polnox technologies prolong the quality and shelf life of finished products by protecting the physical and mechanical properties of these materials from thermo-oxidative processes. Longer shelf life of finished materials benefits both the manufacturer and consumer.
Polnox Corporation was established in 2003 with venture funding from Navigator Technology Ventures, a subsidiary of Draper Laboratory. Polnox is located in a state-of-the-art research and development facility at 333 Aiken Street, on the campus of the University of Massachusetts in Lowell.
UMass Lowell, www.uml.edu, a comprehensive university with a national reputation in science, engineering and technology, is committed to educating students for lifelong success in a diverse world and conducting research and outreach activities that sustain the economic, environmental and social health of the region. UML offers its 11,000 students more than 120 degree choices, internships, five-year combined bachelor’s to master’s programs and doctoral studies in the colleges of Arts and Sciences, Engineering and Management, the School of Health and Environment, and the Graduate School of Education.