R&D NEW TECHNOLOGY

Company Description

Manufacturing – CNC machining

Markets

Aerospace and Medical

Ownership

Private -3 owners

Years in business

16

PEN’s Engagement

The PEN Group, LLC. began this engagement in 2012.  The owners asked PEN to research a relatively new technology to determine its marketability, thus allowing the company to diversify into new markets and expand core capabilities.

PEN was able to secure a grant to fund the R&D efforts.

Phase 1 was the assessment of; the technology capabilities, OEM specifics, materials, and process stability and tolerances.  A profile of part characteristics was researched and the sweet spot of material and part requirements was developed.

During Phase 2 a business plan was developed.  Included in the development process was a series of interviews with research hospitals and aerospace companies.  The goal of the interviews was to assess technology viability, quantification of sales for the new technology and determine a risk assessment for the investment.