LUBBOCK, TX (KCBD) - Lt. Gov. David Dewhurst announced on Monday the approval of an Emerging Technology Fund (ETF) award, up to $1.5 million for MicroZAP, a bio-technology company specializing in food safety.
MicroZAP was spun off from patented technology developed through cutting-edge food sterilization research at Texas Tech University's International Center for Food Industry Excellence. Sen. Robert Duncan (R-Lubbock) joined Lt. Gov. Dewhurst for the announcement.
MicroZAP uses directional microwaves delivered at varying doses and intensities in order to target disease-causing microorganisms with great precision. The technology has even demonstrated the ability to kill the deadly MRSA bacterium.
MicroZAP will receive $500,000 at the beginning of the company's contract with the state. As the company achieves milestones agreed to in the final contract, it may receive up to $1 million in additional ETF award funds. The state will take an equity position in the company for its investment.
The ETF was created by the Texas Legislature in 2005. The governor, lieutenant governor and speaker of the House must jointly approve each ETF grant based upon the review and recommendations of a 17-member advisory committee made up of leaders in the fields of business and research.
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