Craig Bandes has more than 20 years of combined experience as an entrepreneur, CEO, and Angel investor, building companies in the technology, defense and professional services industries. Mr. Bandes joined Pixelligent, an innovator in manufacturing nanocrystal additives for the electronics and semiconductor markets, in early 2008. Since then, he has restructured the company, enabling it to emerge successfully from a reorganization process, refocused its product strategy and secured more than $20 million in equity and grant funding.
The U.S. is currently the world leader in nanotechnology innovation and has invested more than $30 billion in research. The biggest challenge of the ‘nanotech revolution’ is turning these innovative breakthroughs into commercial products that create jobs, generate profits and strengthen the American economy. Under Mr. Bandes leadership, Pixelligent has become an emerging leader in this space, introducing new products, scaling up its manufacturing capabilities, and building a world-class executive team. In June 2011, Pixelligent moved its operations from the incubator building at University of Maryland to a state-of-the-art pilot manufacturing facility in Baltimore. Since then, the company has expanded its footprint to include more than 13,000 sq. ft. and has increased its workforce by nearly 250%, filling roles from executives to line operators.
During the past year, Pixelligent has sold its nanocrystal dispersions to more than 50 companies in the U.S., Asia and Europe and in the first quarter of 2013 introduced its first standard family of products under its PixClear™ brand. PixClear™, was developed for applications in the electronics and semiconductor markets. When incorporated into existing products, these nanoadditives can dramatically increase light output and readability of modern touch screens and displays.
As demand increases for the company’s proprietary Zirconia and Hafnia nanocrystal additives, Pixelligent has made significant progress scaling-up its manufacturing capacity. As a result of Mr. Bandes’ leadership, the company has increased its manufacturing capacity from only a few grams per week in 2010 to more than 2,000 kilograms per year, today.
In 2012, Pixelligent was awarded two programs by the Department of Energy Argonne National Laboratory. The goal of both programs is to develop high-performance nanoadditives for automotive and other engine oils to improve fuel efficiency and prolong engine life. Winning these incredibly competitive grants is further validation of the potential value of Pixelligent’s nanocrystal dispersion technology.
In addition to ramping up operations, Mr. Bandes has raised nearly $15 million in equity funding and has also been awarded more than $11 million in federal grant programsPrior to Pixelligent, Mr. Bandes was the President and CEO of Global Secure Corp, a high-tech homeland security company, which in just over four years grew from a start-up to 250+ employees, achieved revenues of nearly $40 million, completed three acquisitions, raised more than $25 million, and filed for an IPO.
Prior to Global Secure, he was a co-founder of Focus Technology Consulting, which ranked #14 on the 2008 WashTech Fast 50. Mr. Bandes has negotiated more than $300 million in financial and strategic transactions in the United States, Asia, and Europe. He sits on numerous for profit and not-for-profit boards and committees, including the University of Baltimore Merrick School of Business Advisory Board, the GBC Technology Committee and a review committee for the National Science Foundation. He is a graduate of Babson College.