Congratulations to Indiana University alumnus Chris Stoker, co-founder of Adranos Energetics LLC, a rocket fuel startup. The company received $80,000 in funding from the Elevate Purdue Foundry Fund earlier in January!
Adranos’ co-founders Stoker and Brandon Terry, a Purdue postdoctoral research associate on rocket fuel innovation, serve the aviation and aerospace industries through the development of an innovative solid rocket fuel that could minimize HCI aerosol formation and increase total propulsion helping make rockets used in military and space applications travel farther, carry greater payloads and be environmentally friendly. A video about the company is available here.
The funding is used by entrepreneurs to advance their startups and innovations through various commercialization activities including market research, product development and prototype creation. The companies receiving funds are part are part of about 200 Indiana-based companies financially supported through Elevate Ventures since 2010, which together have also attracted nearly $300 million in capital from other sources.
The Elevate Purdue Foundry Fund is operated jointly by officials from the Purdue Foundry and Elevate Ventures. A news release about the award is available here.
Leave a Reply