ASU spinout Swift Coat grows, named Manufacturer of the Year
Swift Coat co-founder and chief executive officer Peter Firth foresees the company’s innovative product aiding the U.S. aerospace, semiconductor and high-tech manufacturing industries, as well as national defense. Photo by Erika Gronek/ASU
Today, there are approximately 14,000 active satellites in orbit around Earth. The number is expected to grow to more than 65,000 by 2030. This rapid expansion of the space economy is outpacing the capabilities of the existing supply chain, which historically has been small, specialized and slow.
As governments and commercial entities race to claim their space in the sky, their pace has been throttled by long lead times for production of critical components — delays that threaten the success of missions essential to U.S. national defense and economic leadership in space.
Swift Coat, an Arizona State University spinout venture, is helping to confront that challenge.
Over the past 18 months, the company has adapted its proprietary coating technology, Aerosol Impaction-Driven Assembly, to enable domestic production of advanced coatings and components for the aerospace, solar and semiconductor industries.
One of its coatings boosts the power produced by solar panels on satellites by 4%, which enables reducing the size of panels as well as lowering satellite launch costs.
The results have led to more than $4 million in contracts within the aerospace industry.
To meet this growing demand, Swift Coat has expanded operations from its nucleation site in ASU’s MacroTechnology Works semiconductor fabrication facility into a 16,000-square-foot building in north Phoenix, where it plans to double its workforce within six months.
Growing recognition from industry organizations
This growth trajectory has been noticed by the Arizona Chamber of Commerce & Industry and the Arizona Manufacturers Council, which has recently named Swift Coat Arizona’s Small Manufacturer of the Year.
“Swift Coat is exactly the kind of company we love to highlight,” says Grace Appelbe, executive director of the Arizona Manufacturers Council. “It’s homegrown, innovative and solving real-world challenges in smart, practical ways.”
“The Manufacturer of the Year Awards recognize companies that are creating quality jobs, contributing to Arizona’s economic growth, and keeping our state at the forefront of modern manufacturing,” Appelbe says. “That’s what makes Swift Coat a standout among this year’s honorees.”
Swift Coat was honored alongside other Arizona manufacturing leaders, including Axon (Large Manufacturer of the Year) and Four Peaks Brewing Company (Excellence in Sustainability), at the Manufacturer of the Year Awards on Oct. 28.
The Arizona Manufacturers Council described Swift Coat as having developed “cutting-edge coating technology” that enables producing many products and materials that are significantly more durable and energy efficient.
Boosting Arizona’s stature in the high-tech realm
Swift Coat’s success reflects ASU’s growing role as a catalyst for Arizona’s manufacturing resurgence.
“It is emblematic of the ecosystem we’re building,” says Zachary Holman, vice dean for research and innovation in the Ira A. Fulton Schools of Engineering at ASU, who is also Swift Coat’s co-founder. “We’re proud to see companies that have gotten started at ASU earning recognition for advancing high-tech manufacturing and strengthening Arizona’s economy.”
Peter Firth, a graduate of the Fulton Schools and Swift Coat’s other co-founder and chief executive officer, attributes much of the company’s success to the early and continued support of ASU.
“ASU provided mentorship and access to resources in the company’s early days to help us bridge the gap between academia and industry,” Firth says. “Today we continue to partner with the university on projects in order to leverage their world-class facilities, faculty and students.”
Following its Small Manufacturer of the Year Award, Swift Coat will next expand its coating manufacturing capability to meet the demands of the growing U.S. aerospace market and launch new coating products for use in the semiconductor industry.
The company is building manufacturing capacity large enough to support the entire U.S. satellite market, which includes a multimillion-dollar investment in equipment and a doubling of staff over the next six months.
“With support from ASU, the Arizona’s Manufacturing Council and the Arizona Chamber of Commerce, we hope one day we’ll be considered for the council’s medium and large manufacturer of the year awards,” Firth says.
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