Pajarito Powder Expands Albuquerque, New Mexico, Operations
The State of New Mexico’s Local Economic Development Act (LEDA) grant of $250,000, for which the City of Albuquerque will act as fiscal agent, allows the company to expand from its current location at Albuquerque's Osuna Business Park into a new, larger facility.
“State assistance, beginning 5 or 6 years ago, has been critical. This is a relatively new commercialized technology and for major companies in Asia, this support adds to our credibility,” said Thomas J. Stephenson, CEO and Chairman of Pajarito Powder. “We have had a very close partnership with the Department of Energy and the State of New Mexico and companies in Europe and Asia see those relationships as valuable. LEDA assistance gives us the firm footing we need to expand and add employees, to ensure sustainable growth as we move forward.”
The City of Albuquerque is also contributing $25,000 in LEDA funding that will assist with the acquisition and construction of the new manufacturing facility. Notably, Pajarito Powder recently received an investment from Hyundai Motor Investment, a subsidiary of Hyundai Motor Group.
The Economic Development Department has supported Pajarito Powder previously with a technology start-up grant through the Small Business Innovation Research (SBIR) matching grant program, the Job Training Incentive Program (JTIP), and a federal program administered by the State - the State Trade Expansion Program (STEP).
“Pajarito Powder began with strong New Mexico partnerships and is creating jobs through innovative New Mexico partnerships,” added Department Cabinet Secretary Alicia J. Keyes. “The State’s LEDA grant will assist as Pajarito Powder expands its innovative green energy technologies into new markets, helping to decarbonize transportation and manufacturing across the globe.”
Pajarito Powder, LLC is a venture-backed manufacturer of advanced catalysts for PEM and alkaline fuel cells and electrolyzers. The company’s primary products include Platinum Group Metal (PGM) catalysts and Engineered Catalyst Supports™ (ECS products) for Fuel Cell Electric Vehicles (FCEV), advanced catalysts for electrolyzers, Engineered Electrolyzer Catalysts™ (EEC products), and Precious Metal Free™ (PMF) catalysts that are entirely free of PGMs.
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