Scientific R&D business named to Florida Companies to Watch list
Oviedo, Fla. – Semplastics has been named to the 2024 Florida Companies to Watch list by GrowFL because of its outstanding growth.
GrowFL is an economic development program aimed at helping second-stage growth companies prosper in the Sunshine State. It works in association with the Edward Lowe Foundation to compile the Florida Companies to Watch list, which celebrates those companies that demonstrate high performance by using innovative strategies and processes.
Semplastics was one of 50 companies statewide that made the list. It was selected out of more than 500 nominees.
Semplastic’s growth was spurred by the fact that the company continues to take its research and development knowledge and award-winning advanced technology, to continue to develop revolutionary materials in several markets. President and Founder Bill Easter said they are incredibly proud of the recognition.
“As a research and development business, we have worked hard to grow this company into a second-stage business,” he said. “We’re in good company among the other honorees, and we look forward to continuing to develop innovative strategies and technology that allow our growth to flourish at Semplastics.”
Semplastics was founded in 2000 and has since developed into a company of advanced materials, overseeing several subsidiaries within the scientific research and development industry, including X-MAT and X-BATT. Semplastics specializes in material engineering, developing revolutionary, high-performance technology used in a number of different market applications.
Second-stage companies are defined as those with six to 150 full-time employees and between $750,000 and $100 million in annual revenue. Over the past four years (2020-2023), these honorees collectively generated close to $2 billion in revenue and created 1,462 jobs, reflecting a remarkable 180% revenue increase and 127% job growth. This translates to an average annual revenue growth of 45% and 32% employee growth.
Semplastics will be honored at a celebration Feb. 27 at the Hard Rock Live.
For more information on GrowFL, visit www.growfl.com. For more information on Semplastics, visit www.semplastics.com.
About Semplastics
Semplastics, a Florida-based material engineering company, launched in 2000. Over the last 20 years, Semplastics has supplied plastic engineered components to a broad range of industries from medical to aerospace. The Advanced Materials Division of Semplastics, X-MAT®, was later formed in 2013. Since inception, X-MAT® has developed a revolutionary, high-performance material that combines properties of metals (electrical conductivity), engineering plastics (lightweight) and ceramics (high operating temperature). Semplastics has held partnerships with NASA, Space Florida and the Department of Energy. Its game-changing material has various current applications including fireproof roof tiles, lightweight space mirrors, battery electrodes and 3D printing ceramics. Semplastics’ technology can be custom-engineered to fit many specifications and has unlimited potential market applications. To learn more about Semplastics and X-MAT®’s capabilities and future projects, visit their websites at https://semplastics.com/ and https://www.x-materials.com or call (407) 353-6885.