WED AM News: COnovate developing next-gen battery tech based on UW-Milwaukee research; RoddyMedical takes part in Mayo Clinic’s MedTech Accelerator program

May 22, 2024

— COnovate, an early-stage company based on UW-Milwaukee research, is developing new battery technologies that could offer faster charging and more storage capacity.

Strategy and Commercial Support Lead Jeff Moore presented on the company yesterday during a Wisconsin Technology Council meeting in Madison. COnovate is developing a “remarkable fundamentally distinct” material called graphene monoxide, he said, describing it as a highly stable, solid form of carbon monoxide.

“It has a number of intriguing properties,” he said. “It’s strong and flexible, more so than graphene, firmly conductive, and also a semiconductor. So there are a host of applications available to it, but the company’s efforts are centered on battery opportunities, to exploit the unique capabilities it has as an anode material.”

Anodes are battery components that, along with cathodes, enable the flow of electric charge. They’re typically made of graphite, Moore said, noting this material “works well now” but isn’t ideal for the next generation of battery technologies that are aiming for greater capacity.

“The bigger problem is that there’s a supply chain issue,” he said. “Over 90% of battery-grade graphite comes from China. We’re in the middle of a trade war with China. China has already executed export restrictions that could be devastating to any manufacturer outside of China.”

He said “the time is now” for a viable domestic alternative, arguing COnovate’s “ecophite” composite material based on biological feedstock fills that gap. Moore said it performs better than the industry standard, is cost-competitive with graphite, has higher capacity and is safer to operate due to its chemical makeup.

The company’s approach can use existing industrial infrastructure for production, he said, and its material can be used as an additive in existing designs. It was first discovered in miniscule quantities, and has been scaled up to 10-kilogram batches using conventional furnace equipment, he said.

“We have a manufacturing partner in place and we have devised a plan to deliver this material with their equipment, to accelerate our entry into the marketplace,” he said.

Since launching in 2016, the company has landed more than $3.5 million in non-dilute grant funding from both state and federal sources and has raised more than $1.6 million in investment funding, according to its website.

See more on COnovate here.

— A Wauwatosa startup called RoddyMedical was selected as the audience favorite for its pitch in the latest MedTech Accelerator program.

This 10-day program, hosted by Mayo Clinic and Arizona State University, gives participating companies the opportunity to connect with global leaders in health care and business. The latest cohort was held March 18-28.

“Being selected as one of ten cohort companies … means that our patient-centric approach to improving clinical safety and patient outcomes and saving lives with the SecureMove-TLC is being recognized by leading healthcare institutions,” COO and co-founder Pat Deno said in a statement.

This wearable device is designed to secure medical tubes, lines and cords to reduce the likelihood of patient injuries caused by snags or other safety issues. It can handle more than 80 pounds of pulling force, according to an overview on the MedTech Accelerator’s website.

The program included “intense days” of meetings with high-level executives across the medical industry, from health research to quality assurance and more, Deno said.

“It was an absolutely fantastic experience for us as a startup,” she said yesterday in an interview.

RoddyMedical received the Audience Choice award during a pitch contest element of the program on March 27.

Lindsey Roddy, the company’s CEO and founder, said she looks forward to strengthening its network and expertise with help from Mayo Clinic and ASU while continuing to develop the business.

“Having the opportunity to attend the MedTech Accelerator program and create lasting relationships with others who have been on a journey similar to ours has already been transformative for our business,” she said.

And while the accelerator has finished, Deno notes the company is now moving ahead with a product trial at Mayo Clinic, along with other ongoing research collaborations sparked through the program.

See the release, and see more on the program.

For more of the most relevant health care news, reports on groundbreaking research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics and WisBusiness.com.

Sign up here.

— State officials are touting the launch of a new Amtrak passenger rail line called the Borealis, which connects the Twin Cities to Chicago with a route that passes through Milwaukee and other Wisconsin communities.

The state Department of Transportation yesterday announced the train service’s inaugural trip, noting it’s been 22 years since passenger rail was last expanded in the state. Communities in the state will be hosting celebrations as the Borealis passes through them, according to the governor’s office.

The rail line has eight stops in Wisconsin: La Crosse, Tomah, Wisconsin Dells, Portage, Columbus, Milwaukee, the Milwaukee airport and Sturtevant.

In a statement on the new rail service, Gov. Tony Evers said “this is only the beginning of our work” to expand passenger rail in the state.

“After years of disinvestment in the transportation system and missed opportunities for passenger rail in Wisconsin, our state was long overdue for a new train service to meet travelers’ demand for a safe, efficient, and sustainable way to get where they need to go,” Evers said.

Evers had proposed more than $3.5 million in his 2023-2025 budget request, and the final budget he signed into law included about $970,000 for the Borealis route, according to the release.

See details on the Borealis schedule and route.

— Evers announced his administration has formally asked the GOP-controlled Joint Finance Committee to release $15 million for a program to give grants to child care providers.

It’s the second time in as many days that Evers has publicly announced a 13.10 request asking the committee to release funds. The guv and GOP lawmakers have been at odds over the committee releasing funds for things like combating PFAS and hospitals.

The 2023-25 state budget included a provision to create a child care revolving loan fund through the Wisconsin Economic Development Corp. Evers used his partial veto authority to instead allow the money to be used for grants.

The funds were put in the committee’s supplemental appropriation for release after the agency formally requested the money.

The guv on Monday asked Joint Finance to release $10 million to help with efforts to land major events to the state.

The battle between Evers and GOP lawmakers is now in the courts. The guv asked the state Supreme Court last fall to hear his challenge of the committee’s actions, including the rejection of stewardship purchases. The suit argues the committee’s actions have been a legislative veto that violates the separation of powers. The court heard oral arguments in that case last month.

See the release.

Exact Sciences files second patent infringement case against competitor

Meriter’s lowest-paid union workers to get 9.6% raises over two years

TOPICS

AGRIBUSINESS

– Dairy symposium – advancing Wisconsin dairy industry

– Wisconsin milk production up in April 2024

CONSTRUCTION

– Poblocki Sign Co. shuts down after 92 years

ECONOMY

– Milwaukee-area homes are still flying off the market. Some homes are on the market only 5 days.

EDUCATION