You have reached your limit of free articles this month.

Enjoy unlimited access to myDaytonDailyNews.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myDaytonDailyNews.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myDaytonDailyNews.com.

breaking news

Franklin’s Luke Kennard drafted by Detroit Pistons in first round

Growing firm lands work with SpaceX


Dayton-area firms Cornerstone Research Group and Spintech have long been tied by investors, history and cutting-edge technology.

These days they’re tied by something else: Steady growth.

RELATED: More than 3,400 jobs pledged to the region

Defense contractor Cornerstone Research Group has been based in Beavercreek for two decades but is now eyeing a move to Miamisburg.

And Elon Musk’s rocket manufacturer SpaceX has joined the growing roster of Spintech’s customers.

Cornerstone researchers developed their “shape memory polymer” some 17 years ago, and the technology has proven of interest of composite material manufacturers. Cornerstone created Spintech to harness the material and its tooling, spinning it off to independence in 2010.

Shape memory polymer can become quite flexible before taking on a stronger, more rigid form. The technology allows customers to repair the composite bodies of aircrafts and other objects. Plastics used in the process can be made pliable or rigid, as needed, and “remember” their original shapes, leading to the “shape memory” name.

The idea is to help composite manufacturers achieve what Patrick Hood — Cornerstone president and chief executive — calls the “holy grail:” “Faster, cheaper, better.”

Spintech is seeking investments in an “A” fundraising round, having raised $1.4 million thus far. Craig Jennings, Spintech president, is confident that another $1.1 million more will be raised, from investors locally and across the country. (Cornerstone remains a major investor in Spintech.)

“It’s allowing us to really ramp up with various customers,” Jennings said.

Customers like Hawthorne, Calif.-based SpaceX. Some of Spintech’s customers are names many readers may not recognize, but a growing number are unmistakably “blue-chip,” Jennings said. SpaceX regularly makes international headlines for its rocket launches and its famous billionaire founder, Canadian-American business magnate Elon Musk.

Jennings said he has been told that Musk is aware of Spintech and its technology.

“I’ve talked with our engineer contact at SpaceX, and his comment was that Elon and … Gwynne Shotwell, who is the president, are fully aware of the (Spintech) process,” Jennings said.

Spintech sells not the shape memory material but the tooling process and the “solution,” Hood said. Now the material is finding its way into composite bicycle frames made in California. It’s also finding a place in business planes, helicopters and, yes, next-generation rocket parts.

“It’s really now showing the benefit,” Hood said.

“We’re driving down labor costs, we’re increasing through-put and we’re improving quality,” Jennings said.

Spintech has about 12 employees while Cornerstone has about 50. But Hood expects Cornerstone to “grow significantly” by the fourth quarter this year.

“We could literally hire 50 percent more (workers) by the end of the year to execute the work that we anticipate,” Hood said.

The city of Miamisburg has applied for $225,000 in Montgomery County development funds to help Cornerstone move to that city in a $5.5 million project, creating 68 jobs that would be new to Miamisburg.

“We need different room,” Hood said. While Cornerstone is still performing due diligence research on the move — Hood couldn’t say much — he did say there aren’t a lot of facilities that meet Cornerstone’s very specific needs. The county ED/GE (Economic Development/Government Equity) grant would help with modifications to the facility the company is considering.

“We’re getting to the point where we need to demonstrate the ability to manufacture full-sized parts, aircrafts, full-up systems,” Hood said. “The type of space we have now is great for just labs.”

But the company needs high-ceiling bays and more.

FIVE NEW BUSINESS READS

City of invention: Dayton remains a cradle of creativity

Report: Ohio among the top states drawing venture capital

DP&L warns of these new scams

Company’s grand opening to bring TV program to town

Fuyao and UD unite for a new course



Reader Comments ...


Next Up in Business

In close formation, reporter rides in squadron of vintage war planes
In close formation, reporter rides in squadron of vintage war planes

For the first time at the 2017 Vectren Dayton Air Show, the award-winning GEICO Skytypers flight squadron will fly through the Miami Valley in a tight formation. The squadron of six vintage World War II aircraft will perform on Saturday and Sunday — showing off daring, precision maneuvers in the high skies of Dayton. On Thursday, I climbed into...
Used car deals best in long time
Used car deals best in long time

This year is going to be the best year to buy a used car in a generation. There are a couple factors contributing to the perfect storm that’s benefiting used car buyers right now. First, automakers overextended themselves in 2014 with subsidized leases. All those cars are coming off-lease now and are back on the dealer lots. The supply is extreme...
Medical pot business applications flower across area
Medical pot business applications flower across area

Ohio is taking applications from would-be medical marijuana cultivators for state business licenses, and the application period for large-scale growers ends Friday, June 30. The Dayton area is attracting its share of them. The city of Dayton has six applicants who meet city and state zoning rules, said Keith Klein, senior development specialist for...
JC Penney to hire 600 people in Ohio
JC Penney to hire 600 people in Ohio

JC Penney is gearing up to hire 600 employees throughout Ohio. The retailer announced it needs associates for a variety of customer service and support positions, including: cashier, replenishment specialist, SEPHORA inside JCPenney beauty consultant and more. JCPenney salons in Ohio are also seeking experienced salon stylists to be part of the company&rsquo...
Financial company surpasses Kettering hiring goal
Financial company surpasses Kettering hiring goal

The success of a Synchrony Financial hiring program at its Kettering site has inspired the company to expand the program elsewhere. Synchrony Financial launched its disability hiring initiative in Kettering — which remains the company’s largest site — last summer and surpassed its goal this month of hiring 45 people with both physical...
More Stories