October 22, 2020
Adranos receives prestigious ‘Most Fundable Company’ designation
Adranos named to short list after competing with 4,500 other companies
WEST LAFAYETTE, Ind. – Adranos Inc., a Purdue University-affiliated company that develops a high-performance, clean solid rocket fuel for long-range missile and space launch systems, has won a spot on the Pepperdine Graziadio Business School’s third annual Most Fundable Companies list.
Adranos competed against more than 4,500 early-stage U.S. companies spanning all 50 states to be named among the top 20.
The Most Fundable Companies initiative is designed to recognize exceptional entrepreneurs who are solving today’s problems with inventive solutions and also are seeking investment capital to fuel their company's growth.
“It is an honor to be recognized out of thousands of other companies,” said Chris Stoker, CEO of Adranos. “This is yet another point of external validation that we are on track not only to create substantial value for our customers but also to provide meaningful returns for our current and future investors.”
The Most Fundable Companies initiative is led by Craig Everett, who earned his Ph.D. in finance from Purdue’s Krannert School of Management.
The rigorous process involved a multiphase assessment that evaluated several company variables, including financial projections, market opportunity, intellectual property and the strength of the management team, all of which were used to produce a fundability score.
The Pepperdine Most Fundable Companies were evaluated and selected based on their readiness for private investment. Most Fundable Companies is powered by The Venture Alliance.
Adranos closed out a funding round earlier this year raising $1 million and recently received a $750,000 contract at the Air Force’s Space Pitch Day and $1.1 million in funding to prove ALITEC functionality in a hypersonic propulsion platform.
Last year, Adranos successfully tested a prototype rocket powered by its ALITEC rocket fuel and was the winner of the Army’s first-ever xTechSearch competition.
As a winner on the Most Fundable Companies list, Adranos will be profiled on Entrepreneur.com and will be featured in the December print issue of the magazine. For a complete list of the winners, visit www.pepperdine.edu/mfc-list, where viewers can vote for Adranos as the “crowd favorite” through Nov. 1.
Founded in 2015, Adranos Inc. performs research and development of energetic materials and novel solid propulsion systems. It is focused on increasing the range and capability of missiles and other defense systems. Adranos’ capabilities include the manufacturing and testing of rocket motors as well as production of energetic materials.
About Purdue Research Foundation
The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts; administers trusts; funds scholarships and grants; acquires property; protects Purdue's intellectual property; and promotes entrepreneurial activities on behalf of Purdue. The foundation manages the Purdue Foundry, Purdue Office of Technology Commercialization, Purdue Research Park, Purdue Technology Centers and University Development Office. In 2020, the IPWatchdog Institute ranked Purdue third nationally in startup creation and in the top 20 for patents. The foundation received the 2019 Innovation and Economic Prosperity Universities Award for Place from the Association of Public and Land-grant Universities. For more information on licensing a Purdue innovation, contact the Purdue Office of Technology Commercialization at firstname.lastname@example.org. For more information about involvement and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at email@example.com.
About Purdue University
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Writer: Chris Adam, firstname.lastname@example.org
Source: Chris Stoker, email@example.com