Advanced Fuel Research, Inc. (AFR) is a privately owned small business, founded in 1980, that conducts Contract Research & Development in the areas of energy, fuels, advanced materials, sensors, and analytical instrumentation. The initial work employed novel Fourier Transform Infrared (FT-IR) spectroscopy methods to understand the starting composition and reaction behavior of fuels. These diagnostic techniques were subsequently extended to a wide range of applications, including the measurement of gas compositions and temperatures, particle size distributions, and the thickness, temperature, optical properties, and composition of thin films. Through this research, AFR scientists and engineers became pioneers in infrared instrumentation and its applications, producing numerous patents and publications. A spin-off company, On-Line Technologies, Inc., was founded in 1991 for the purpose of commercializing selected AFR FT-IR technologies, and is now part of MKS Instruments (www.mskinst.com). A second spin-off company, Real-Time Analyzers, founded in 2001, focuses on Raman spectroscopy (www.RTA.biz). In 2012, a third spin-off called Image Insight, Inc. (www.imageinsightinc.com) was formed to commercialize radiation detection software for cameras. AFR is currently developing two additional spin-offs: 1) TurboSense, for advanced gas turbine monitoring; and 2) Next Generation Energy, for alternative energy sources.