Precision Photonics wins 2011 Tibbetts Award for innovation

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Precision Photonics Corporation (PPC) has received a Tibbetts Award from the US Small Business Administration (SBA) for its communication devices for telecom industries, innovative ion-beam sputtered coatings, and its development of bio-medical diagnostics. SBA presents the awards to companies and individuals that have advanced technological innovation and economic growth.

Nick Traggis, vice president of Precision Photonics, said: 'This award reaffirms our commitment to practical science. We are pleased with our track record of successfully moving R&D to commercial production for both SBIR and customer funded programs, and look to continue to do so in the future. A great example of this is mBio Diagnostics, a company initially incubated under PPC through SBIR funding just a few years ago, and now successfully delivering medical diagnostic equipment around the world.'

PPC has delivered numerous technologies based on SBIR funding; perhaps the greatest success has been PPC’s ability to transition SBIR developments into commercial deliverables. The innovations developed under these SBIR programs have directly led to an expansion of PPC’s core optical fabrication business and a corresponding increase in revenues and jobs.