MIT-spun startup and 2012 MassChallenge winner LiquiGlide Inc., the makers of a “permanently wet slippery surface” for use in food and commercial packaging, announced on Wednesday its 2013 business milestones.
Take, for example, your classic condiment. Ever been stuck trying to smack the last of your super thick Heinz ketchup out of the bottom of those weirdly shaped glass bottles? When administered to the inside of the bottle, LiquiGlide’s unique coating can get every last drop of the sauce out. Introduced within other industries as well, and the Cambridge-based company could save an estimated one million tons of food from being thrown out and 50,000 tons of petroleum-based plastics from being used per year, according to their website.
While the company doesn’t have any commercial goods with the coating out just yet, you can expect to see the first batch of products boasting LiquiGlide make their way onto shelves in 2015.
The young, fast-growing startup has worked hard in their first year, reaching or surpassing many of its original goals. Here are some of their key milestones from 2013:
- 3,000+ inquiries received about LiquiGlide’s technology
- 22+ blue chip-clients signed globally
- Multiple exclusivity agreements optioned
- First custom coatings released and approved for commercialization by clients
- More than six finished coatings ready for licensing
- Two patents granted and 20+ pending
- Staff growth from three to 18 employees
- Positive operating cash flow
And the slippery solutions company isn’t stopping there. While 2013 was a successful year, they’re looking to hit even bigger milestones in 2014.
“We are working closely with clients to implement our first commercialized coatings for processing applications over the next few months,” President of LiquiGlide Carsten Boers told BostInno in an email. “We are also collaborating with consumer brands to line-up many different products with LiquiGlide’s coatings to hit shelves in 2015.”
Though you may have to wait a little longer to solve your ketchup problems, the company aims to make its commercial debut with a crew of additional common household products that people use everyday. Plans to expand into multiple industries are also in the works.
“The first three products with LiquiGlide coatings that you will see are toothpaste, mayonnaise and paint. In addition, we are actively speaking with companies in the medical, industrial and oil and gas industries, exploring strategic partnerships in those fields,” Boers shared.
With two years of hard work behind them, LiquiGlide isn’t planning on slowing down anytime soon.
“We feel a real sense of urgency to bring our coatings to every industry where they can make difference. We are really excited to see the first commercialized applications of our technology in action… and to help solve major challenges in these industries with our technology,” Boers said.
Since its founding in 2012, LiquiGlide has been awarded a number of accolades and prizes, such as the $2,000 Audience Choice Award at the 2012 MIT $100K Entrepreneurship Competition, being named TIME Magazine’s Best Innoventions of 2012 and landing the list of Forbes‘ Best Food Innovations of 2012.