LA-based Karman Space & Defense acquires CRG’s patented resin technology
June 21, 2022
Miamisburg-based Cornerstone Research Group announced Wednesday that Los Angeles-based Karman Space & Defense has acquired a proprietary portfolio of “MG Resins,” high-temperature materials used in hypersonic flight vehicles.
Through the deal, CRG will continue to conduct research, development, testing, and evaluation activities on the resins to complement Karman’s extensive production and scale-up capabilities. Mach 5 Materials, LLC, a venture recently launched by CRG’s startup studio Rushlight Ventures, will wind down.
The remainder of CRG’s work across its extensive technology portfolio will remain unchanged.
“The marriage of Karman’s broad array of space and defense products and the depth of their production capabilities is a perfect match for CRG’s expertise in developing novel, purpose-driven materials,” CRG CEO Patrick Hood said. “Not only will both companies be well-served by this new relationship, but more importantly, our customers will have access to MG Resin technology on a timeline and scale that serve our nation’s strategic interests.”
Dr. Rick Hreha, the inventor of this novel material system, will remain a key player in working with CRG and Karman to advance this platform.
“We are thrilled with the outcome of our discussions with Karman,” Rushlight Ventures President Andy Cothrel said. “The structure of this deal not only optimizes our collective ability to meet customer needs, but it also validates the commercialization approach we put in motion when we formed Rushlight Ventures.”
CRG’s company operations in Miamisburg will not see any significant changes.
“We plan to continue to pursue improving and inventing in the critical area of high-temperature materials,” CRG President Chris Hemmelgarn said. “There are no immediate changes to the scale and scope of employment or operations at CRG as a result of this deal – only a brighter future for everyone involved.”
For its part, Karman has big plans for its new resin system.
“Acquiring MG Resins from CRG aligns perfectly with Karman’s strategy of being a premiere supplier of complex systems to the aerospace and defense industries,” Karman Space & Defense CEO Tony Koblinski said. “In addition, the prospect of being able to continue to leverage CRG’s development capabilities can help us maintain our edge in being the best in the business.”