Sensatek founder wins Black History Month Ignition Challenge
Reamonn Soto awarded $25,000 by PenFed Credit Union
DAYTONA BEACH, Fla. (March 17, 2022) – Sensatek, a dynamic company that develops gas turbine sensors for the energy, aviation, and aerospace industries, now has even more power to drive innovation, thanks to PenFed Credit Union.
Sensatek founder Reamonn Soto was named the winner of the Black History Month Ignition Challenge, presented by PenFed, taking home $25,000 in funding for his business. The competition, in its second year, supports Black veteran, active duty, guard, reserve and military spouse entrepreneurs as a celebration of Black History Month.
Soto is a U.S. Marine veteran.
“I’m proud to be leading a Black veteran-owned business, and I’m thankful to PenFed Credit Union for their support in being part of the grassroots funding of businesses like mine,” Soto said. “Investments like this will help us continue to power innovation.”
The Black History Month Ignition Challenge is open to businesses that are at least 50 percent military- and Black-founder owned. Leaders submitted proposals, and the PenFed foundation’s Veteran Entrepreneur Investment Program (VEIP) selection committee narrowed it down to 15 proposals.
The proposals were then posted online, and the community voted to select three finalists. Soto and Sensatek joined Tiffany Lewis of TJL Collection and E. Sean Lanier of Resolve Solutions for a pitch competition with PenFed Credit Union and community leaders.
In addition to the $25,000 in funding, Soto will receive coaching and support to help further position the company for success.
Sensatek offers advanced sensing technology to optimize gas turbine engines used in harsh conditions. Their sensors measure changes in temperature, strain and torque to help operators learn how long engines can operate before maintenance is needed and how hard an engine can be pushed without damage.
About Sensatek Propulsion Technology, Inc.
Sensatek Propulsion Technology, Inc. is a venture capital backed company headquartered on Florida’s Space Coast in Daytona Beach, Florida. Sensatek offers advanced sensing technology through their assessment service that provides autonomous monitoring of industrial systems using artificial intelligence-enabled technology for harsh environments. Its manufactured rotating sensing system, Turbotrack™, measures and tracks changes in temperature, strain and torque allowing the Sensatek team to capture more value on revenue generating assets. To learn more about Sensatek’s revolutionary technology, visit www.sensatek.com.