In 1999, Kip Shore and Phil Steed formed the company Performance Materials, Inc. The mission of PMI was to pursue the transfer of technologies from other industries and applications to solve problems in petroleum processing. The company developed and owns propriety technologies to produce high performance polymer modified asphalts.

This focus on technology, coupled with a long history of consulting to the hydrocarbon processing industries, led to a reassessment of PMI's mission. In 2001, PMI was renamed Nexidea to reflect the outcome of this reassessment. With the name change, Nexidea's mission evolved to provide not only technology transfer, but technical, economic, and commercial consulting services, to a wide range of clients in petroleum refining and related industries. Our emphasis is on finding novel ways to solve clients problems and add value to their business in the most cost-effective and efficient manner.

Nexidea currently has two offices, one in Ft. Collins, Colorado and one in Dallas, Texas. The firm is a Wyoming Corporation and is a registered engineering company in the states of Wyoming and Texas.