Serial Entrepreneur Pursues Commercial Promise of UT Technology
Friday, February 26, 2010 at 10:42AM Post Authored by Geoff Robson
Ken Wood, a seasoned entrepreneur, has led the development and product launch of a new product, the TriClean Pro, from Advanced Plasma Products (http://advancedplasmaproducts.com/). The TriClean Pro is a new air purification product based on One Atmosphere Uniform Glow Discharge Plasma (OAUGDP) licensed from the UT Research Foundation. The TriClean Pro is designed to remove airborne contamination from the surrounding environment and utilize its plasma capability to kill bacteria such as MRSA and viruses such as Swine Flu. The product is designed for use in markets including healthcare, senior and assisted living facilities, athletics, and hospitality industries representing multi-billion dollar target markets. The company has recently engaged 20 independent sales representatives to begin distribution of the product across these markets.
Advanced Plasma Products was founded in Fall 2008 as a wholly owned subsidiary of Applied Science Products. Applied Science Products also acquired another company, Cummins Family Produce, that produces $8M - $10M in revenue annually and significant free cash flow that is being used to fund the development of products for multiple markets. OAUGDP technology is a platform technology that can be applied to multiple markets including air purification, chamber disinfection, medical waste disinfection, medical instrument sterilization, and active flow control for wind turbines. The company has attracted additional funding from partners who will also act as distribution channels to further support the development and launch of specific products in medical waste pneumatic transportation and wind turbine fields.
Mr. Wood and the Company’s CFO, Rich Rosenfeld, have significant experience in commercializing early stage technology and developing the necessary corporate infrastructure to build a successful enterprise. As President and CFO respectively of Barringer Technologies, they managed the development of embryonic spectrometry technology into the world’s leading trace detection company. Barringer Technologies produced the trace detection products currently used to detect explosive residues at airport security checkpoints and for numerous other law enforcement and security applications around the world. There are now over 15,000 systems across the globe. Barringer Technologies was ultimately acquired by a multinational conglomerate for $82M after Ken and Rich grew it from just over $500,000 in research contract revenues to $160M revenue by the time they left.
Advanced Plasma Products is participating in the UT CEG program, a partnership of Technology 2020, the UT Research Foundation, and The University of Tennessee. APP has worked with the CEG program on key milestones, strategic planning, and access to capital strategies. Applied Science Products and Advanced Plasma Products are both based in Knoxville, Tennessee and recently appeared in an article in The Knoxville Business Journal that can be found here: http://www.knoxnews.com/news/2010/feb/15/technology-gets-new-licensee-after-controversial/
Contact: Ken Wood, Advanced Plasma Products, 908-507-6239 kswood@optonline.net