Some of the technology we'll be using in a few years -- diesel fuel made from recycled plastics and micro electronic devices that detect pathogens in the air -- are being coaxed into the marketplace today by AvMat, a consultancy based in Akron that helps bring new technology to commercialization.
Joe Hensel, CEO, started the firm in 2003 and has since worked with at least 20 start-ups to guide them in their journey from big idea to commercial success.
A former chemical engineer with an MBA in finance who has worked with multinational aerospace and automotive companies, Hensel says his background in R&D and manufacturing gives him a good vantage point to help entrepreneurs take their ventures to the next level.
AvMat specializes in aerospace, electronics and alternative energy businesses. The intellectual property frequently comes through university and government labs where scientists who create it are unfamiliar with the workings of the business world. AvMat offers advice in legal, managerial, financial, operational and branding and marketing services.
Polyflow, a client for the past six years, is a typical example of the type of business he works with. Polyflow takes recycled plastic and rubber materials and creates gasoline, diesel fuel and feedstock for engineering polymers that could be used in place of those normally made from crude oil and natural gas. Over the next year or two, Polyflow could begin commercial sales.
AvMat evolved from Ohio Polymer Enterprise Development, an initiative by the University of Akron to commercialize advanced material technologies for fuel cells.
Today Hensel is sole owner of the company and AvMat is now an equity stake holder in several of the firms that it has worked with. In addition to Hensel, AvMat has one employee. There are no plans to add new employees at this point, says Hensel.
Source: Joe Hensel, AvMat
Writer: Val Prevish