The New Mexico Angels announced today their $344,000 investment into Vibrant Corporation. The investment is to aid the company in their rapid expansion. Vibrant is based in Albuquerque and specializes in Process Compensated Resonance Testing (PCRT) for the aerospace and power generation industries. PCRT is a revolutionary non-destructive testing technology that can determine if a component is structurally sound and fit for service.
Says Lem Hunter, CEO of Vibrant, “The New Mexico Angels have been a part of Vibrant right from the start, and they’ve taken over half of this $650,000 equity round. One of the things I enjoy most about working with Angels is that you get a lot of mentoring and market specific experience along with the check.”
New Mexico Angels’ President John Chavez believes it is important to fund this venture because “It’s not very often that the opportunity comes about to support a company whose customers are some of the largest players in the aerospace industry. It’s a big deal for a New Mexico company to have Delta Airlines and all of the major aero engine manufacturers as clients and we want to support that infrastructure.”
Vibrant’s PCRT technology is the only non-destructive technology that correlates to the structural integrity of the inspected component. While other technologies look for “indications” that are associated with defects that might affect the structural integrity of the component, PCRT actually measures the variations in resonance signatures that are a result of variations in structural integrity. Many kinds of variations can affect the structural integrity of a component. PCRT’s proprietary software “learns” the acceptable manufacturing variations as well as the unacceptable variations caused by material problems, process problems, and in process damage. The technology has been adopted in the industry by large aerospace companies and is continuing to grow in the industry.
Funding was provided by the New Mexico Angels, an angel-investment group that actively invests in regional start-ups while providing industry experience and coaching to the funded entrepreneurs. The New Mexico Angels, is an angel-investment group that actively invests in regional start-ups while providing industry experience and coaching to the funded entrepreneurs. The Angels also have a number of educational programs available to the business community. For more information on The New Mexico Angels visit www.NMAngels.com.