Rhode Island last week awarded $100,000 to two companies working on innovative technology for the military and national security.
Pawtucket-based Nautilus Defense and Bristol-based Composite Energy Technologies each got $50,000 in Innovation Vouchers from the Rhode Island Commerce Corporation, a program that funds companies' work on new and innovative projects.
CET, founded in 1975 as a custom boat builder mostly manufacturing custom racing boats, now has a wide portfolio including building electric and foiling boats, theme park equipment and ride vehicles, and art and architecture.
The company also builds underwater vehicles for the Navy, and that's where the voucher comes in, said George Nickolopoulos, CET's vice president of business development and external relations.
CET is going to use the funds to build on its research on the acoustic properties of carbon fiber underwater.
"We’ve funded material research at the University of Rhode Island and Johns Hopkins Applied Physics Lab and done testing on ... how the material would work at depth, Nickolopoulos said. "But we recognize that it was really important for our continued growth to better understand the acoustic properties," including reflection, transmission and absorption.
"That’s why we were really excited about partnering with the state with this voucher to get the R&D dollars we needed to kickstart this program," Nickolopoulos added.
CET also sometimes collaborates with the other company getting the vouchers, Nautilus, which is also a materials company with an emphasis on defense and national security work.
Nautilus representatives did not respond to calls and emails seeking comment. The company's website says it is working on developing "advanced textile-integrated electronic systems" for the military, ground technology to contribute to satellite-aided search and rescue, and maritime surveillance systems.
