Spero Energy receives $1 million in funding from DOE

By Spero Energy Inc. | June 25, 2015

A company that licenses Purdue intellectual property has received federal funding to develop its one-step, patent-pending technology that could improve the efficiency of alternative fuel production.

Spero Energy Inc. has received a two-year Phase II SBIR grant from the U.S. Department of Energy totaling $1 million.

Basudeb Saha, chief technology officer, said Spero Energy will benefit greatly from the grant.

"The Phase II grant gives us the resources to further advance and commercialize our patent-pending SPERLU technology, or Selective Process for Efficient Removal of Lignin and Upgrading," he said. "We are currently scaling up SPERLU to assess risks and produce products in large enough quantities for market validation testing and direct comparison to current products in the market. We also are assessing unique properties of our products that may provide additional competitive advantages."

Saha and his colleagues also recognize the distinction of receiving a Phase II SBIR award from the DOE.

"Spero is honored to receive Phase II SBIR funding from the DOE, which is at the forefront in providing R&D funds to small, innovative businesses to develop high-risk, high-potential technologies that have significant economic and societal impact," he said. "This highly selective and prestigious award presented through rigorous criteria and review processes, as established by the DOE, recognizes the technical and commercial merit of the SPERLU technology."

In addition to the Phase II SBIR grant from the DOE, Spero Energy also has received Phase I SBIR grants from the DOE and the National Science Foundation, and received a $50,000 grant from Elevate Ventures, a partner of the Indiana Economic Development Corporation.

A video about Spero Energy Inc. is available at https://www.youtube.com/watch?v=90u01yi7pMk