Dynalene's history goes back to 1993 when a collaboration between Loikits Technologies, Inc., Lehigh University and Ben Franklin Technology Partnership was formed and research began to develop an ultra-low temperature heat transfer fluid for cooling highly exothermic chemical reactions involved in making pharmaceuticals and other intermediates. Initially, the researchers worked on different hydrocarbon chemistries involving terpenes, aromatics and aliphatics. Several proprietary products and two patents resulted from this work.

In 1997, Dynalene researchers initiated the development of a potassium formate-based heat transfer fluid. This research had two objectives: (1) to develop a good corrosion inhibitor package for industrial applications and (2) to validate the fluid's performance in both low temperature (-40°) and high temperature (+218°) tests. After a successful research effort, Dynalene HC series of fluids were introduced into the market in early 1998.

While Dynalene HC formulations were being perfected and optimized for various industrial and specialty applications, fuel cell developers were looking for a cooling fluid with very stringent criteria. Dynalene worked with a fuel cell developer and later, with the US Department of Energy (DoE) to gain additional research funding to develop and validate a coolant that would be acceptable to a majority of the fuel cell applications. In the process, Dynalene has won more than $1 million in external funding that includes competitive SBIR (Small Business Innovative Research) grants from the DoE. These R&D projects involve development of an additive package that includes non-ionic corrosion inhibitors and a specially designed nanoparticle.

Recently, Dynalene also was awarded about $850,000 SBIR Phase I and II research grants from the Department of Defense (DoD) to develop an advanced thermo-fluid utilizing hybrid nanoparticles. This project also involves the development of a special corrosion inhibitor package that protects copper and aluminum.