20
SEP
2013

IRG EARNS MILLION-DOLLAR BOOST FROM INVESTOR

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News Release

IRradiance Glass, Inc. earns Million-Dollar Boost from Angel Investor
to Expand Manufacturing Facility at UCF

ORLANDO, Fla. (Sept. 20, 2013) — IRradiance Glass, Inc., which manufactures chalcogenide glasses for applications in infrared optical components and optical systems, recently completed a $1 million agreement with a private investor.

J. David Musgraves, PhD, President and Chief Executive Officer of IRradiance Glass (“Irradiance”), said the capital infusion will fund new equipment to expand the company’s manufacturing operations at the University of Central Florida, where IRradiance Glass is a member of the UCF Business Incubation Program’s Photonics Incubator.

IRradiance Glass manufactures a special glass that allows infrared light to pass through it, Musgraves explained.

“Infrared technologies impact people’s lives in the areas of security and defense, medical and environmental sensing, communications and entertainment,” Musgraves stated.

“All products and systems that utilize infrared light, such as night vision goggles or video game motion sensors, require infrared-transparent optics to manipulate that light.  There are many materials that are used in infrared optical systems, yet only chalcogenide glasses have the flexibility to be tailored to the huge range of desired applications,” said Musgraves.

IRradiance Glass is currently pursuing seven separate contracts valued at more than $2.5 million. The firm, with four employees and manufacturing operations in the Physics Department at UCF, is working to secure funding from a wide variety of sources including business to business contracts, individual sales, academic subcontracts, and government small business grants, Musgraves added.

IRradiance Glass is a member of the UCF Business Incubation Program’s Photonics Incubator.

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For more information media should contact

J. David Musgraves, Ph.D., President and CEO, IRradiance Glass, Inc., 321-250-8200
musgraves@irradianceglass.com

Gordon Hogan, Director, UCF Business Incubation Program, 407-882-1577
gordon.hogan@ucf.edu

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
LvershelCo@aol.com

 

About IRradiance Glass Inc.
IRradiance Glass, Inc. (IRG) is a glass manufacturing and research company, specifically focused on the compositional design and hot forming of chalcogenide glasses. Chalcogenide glasses are materials that are transparent in the infrared part of light, the way window glass is transparent to visible light.  IRG manufactures chalcogenide glasses for applications in infrared optical components and optical systems. We specialize in compositional design and process development for novel infrared glass and glass ceramic materials. Our company has unique experience and expertise in the custom design of glass composition and product form, as well as the thermal, optical, and mechanical analysis of infrared-transmissive chalcogenide glasses.

About the UCF Business Incubation Program
Since its founding in 1999, the UCF Business Incubation Program has helped several hundred emerging companies (including more than 120 current clients and more than 90 graduates). From October 2011 to December 2012, the UCF network of current and graduated clients has helped create a regional output of over $400 million resulting in a $5.93 return for every $1.00 invested in the program.  With nine facilities across the Greater Orlando community, the Program is an example of a successful community partnership.  The UCF Business Incubation Program was named Incubator Network of the Year for 2013. Visit www.incubator.ucf.edu.