Faraday Technology, Inc.

Faraday Technology, Inc., a small business subsidiary of Physical Sciences Inc., operates as a prime contractor delivering advanced electrochemical engineering, materials research, and specialized manufacturing services to federal defense and civilian agencies exclusively through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. All recent federal awards carry a Total Small Business set-aside designation, reflecting Faraday's posture as a small-business-reserved competitor across its entire prime footprint.

Faraday's capability portfolio centers on electrochemical systems, functionally graded coatings, additive manufacturing, and advanced materials development for aerospace, defense, energy, and environmental applications. Representative work includes a $1.51 million MDA Phase II STTR contract awarded March 2025 for functionally graded coatings on hypersonic leading edges, a $2.04 million ONR Phase II STTR contract from September 2024 for advanced electrochemical research and development, a $750 thousand Air Force Research Laboratory Phase II SBIR contract for thermophotovoltaic absorber and thermal emitter technology, and a $1.25 million Air Force Research Laboratory Phase II STTR award for additive manufacturing of astronomical mirrors. The company also holds NASA Phase II STTR work on ultra-low-temperature electrolytic CO2 valorization for Mars applications ($899,967 awarded February 2025, with University of Texas at San Antonio as subcontractor on catalyst testing) and smaller Phase I awards across DARPA, the Naval Air Warfare Center, and the Missile Defense Agency. Performance location is Clayton, Ohio across all contracts.

Customer concentration reflects a defense-and-space mix. The top five funding agencies by potential value account for 78% of combined award dollars: the Air Force Research Laboratory (19 awards, $9.4 million), NASA Shared Services Center (25 awards, $6.9 million), the Missile Defense Agency (5 awards, $3.5 million), the Army Materiel Command Research Development and Engineering Command (6 awards, $3.2 million), and the Office of Naval Research (6 awards, $3 million). By award count, NASA Shared Services Center leads with 25 awards, followed by the Department of Energy Office of Science with 23. The EPA and broader DOE round out the active customer base. Award trajectory shows volatility — ten awards in 2022, thirteen in 2023, fifteen in 2024 — with twelve awards (combined potential value $7.4 million) reaching completion inside the next twenty-four months. Recent obligated dollars exceed combined potential value by 134 percent, indicating favorable spending against ceilings across mature contracts.

Faraday operates almost exclusively as a prime contractor — 96% of recent awards (172 of 180) are prime contracts and grants. The company carries seven sub-awards under EPSE III Robotics and Lasers (electrochemical surface pretreatment and brush plating field testing, awarded September 2021) and one sub-grant from the University of Texas at El Paso on carbon dioxide electrolysis via polymer ionic liquid membranes (October 2022). SCI-reportable invoicing totaled $979 thousand across FY2022–FY2024, representing minimal federal service-contract revenue above the $150,000 reporting threshold; the overwhelming majority of Faraday's federal work is research and development rather than labor-hour service contracts. Hourly rate posture on SCI-reportable prime work shows a median of $436.93/hr with rates spanning from roughly $239/hr at the 10th percentile to $1,053/hr at the 90th percentile — a steep range reflecting mix of senior technical and support labor. SCI-reportable FTE trajectory showed 0.2 FTEs in FY2022, peaked at 0.8 in FY2023, and fell to 0.6 in FY2024, consistent with lumpy R&D project cycles.

The parent company, Physical Sciences Inc., an Andover, Massachusetts–based research and development firm, maintains extensive federal contracting relationships across DARPA, Naval Sea Systems Command, and energy agencies, positioning Faraday as a capability subsidiary within a larger R&D contracting portfolio. Federal grant work includes Department of Energy Office of Science awards (CFDA 81.049) for low-cost fuel cell interconnect coatings ($206,500 awarded February 2025), bubble-free water electrolysis ($206,499 awarded July 2024), additively manufactured heat exchangers for advanced nuclear reactors ($206,000 awarded July 2024), electrochemical repair of tungsten plasma-facing components (awarded February 2024), and electrodeposition of 3D interconnects for high-energy physics detectors (awarded February 2024). Faraday acts as prime recipient on all named grant awards; no grant sub-recipient relationships appear in the source beyond the single UTEP sub-award.