GREENVILLE, Ind. (March 13, 2008) - Kinetic Art and Technology, a designer of precision modular motors for a myriad of high-tech applications, is commercializing its technology with the help of an Indiana 21^st Century Research and Technology grant.

The state awarded the developer and designer of compact electromechanical systems a $1.9 million grant in 2007 to further develop and market its advanced Specialty Equipment Market Association motor technology for use in aerospace, automotive and industrial markets.

"The 21st Century Fund is a powerful tool aimed at growing new and innovative companies like Kinetic Art and Technology that are working to bring cutting edge technologies to the marketplace," said Governor Mitch Daniels.

Since, the state's award, the company has increased employment by more than a third and secured more than $1 million in additional capital.

Founded in 1990, Kinetic Art and Technology has developed motor systems in partnership with nearby Honeywell in South Bend that have found application in the U.S. Department of Energy, Department of Defense, NASA, and manufacturers within aerospace, automotive and industrial markets.

"The 21 Fund is allowing the KAT and Honeywell teams to work faster. At an engineering level, we work like one team," said Roy Kessinger, founder and president of Kinetic Art and Technology. "It's a great combination. Our small business does the thing that we do better than anybody, while our big-business partner does what we could not do by ourselves. It's a win for us, Honeywell and for Indiana."

The Honeywell-KAT partnership has resulted in several joint patent disclosures with more anticipated in the near future, Kessinger said.

"Our partnership will result in a long-term manufacturing base in Indiana with access to very profitable aerospace markets. This means stability for the current KAT and Honeywell Indiana employees and significant growth in Indiana jobs to support emerging technology," he said.

Kinetic Art and Technology is one of 51 businesses awarded a 21st Century Fund grant since January 2006. During that time, the fund has invested more than $65 million in high-tech Indiana entrepreneurial companies that expect to create more than 7,600 new jobs.

About Kinetic Art and Technology
Kinetic Art and Technology develops concepts, techniques and designs for highly efficient and compact electromechanical systems. The company's SEMA-based motors and generators have been used by the U.S. Department of Energy, Department of Defense, NASA, and manufacturers within aerospace, automotive, and industrial markets. Founded in 1990, Kinetic Art and Technology operates out of Greenville, Indiana.

About IEDC
Established under Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Nathan Feltman serves as the chief executive officer of the IEDC. Since the creation of the IEDC, the state has posted three consecutive years of record-breaking commitments for new jobs. For more information about IEDC, visit www.iedc.in.gov.