Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Powermetal Technologies raises $10 million in financing

Powermetal Technologies raises $10 million in financing

Carlsbad, CA | October 20, 2005

PowerMetal Technologies, Inc. a leading nanotechnology applications company, announced today that its equity financing round has been closed at its goal of $10 million. PowerMetal Technologies is financed by a combination of venture capital, private investors and the management team.

The new investment is earmarked for expansion in order to meet customer demand for PowerMetal’s innovative nanometals technology. The advanced materials nanotechnology applications company believes that it is now fully capitalized to meet its needs and hence closed the round. PowerMetal’s unique nanotechnology allows our customers to create and market products that surpass previous levels of performance.

“With customer agreements from market-leading players in hand, we are now transitioning from designing and prototyping of nanometal components, to ramping up full-scale production to meet our volume commitments,” said Edward Hughes, PowerMetal President and CEO. “The funding also allows us to open the new PowerMetal Technologies NanoCenter, thus tripling our prototyping and pilot run capacity. I am delighted with the caliber of investors that have chosen to support PowerMetal Technologies, including venture funding from Toronto-based, Mosaic Capital Partners.”

PowerMetal’s ultra-strong nanometals and alloys provide sporting goods and consumer products manufacturers with a tremendous opportunity to create game-changing products. PowerMetal’s technology allows its customers to create structural layers of nanometal with revolutionary performance properties that enable unprecedented design flexibility and cost effective volume production. The company is currently working with many of the leading sporting goods companies in the major sports categories.

“The level of investor interest and the speed with which this financing was completed is a testimony to the quality of the PowerMetal investment opportunity,” said Ron Farmer, a Managing Director of Mosaic Capital Partners. “This is one of the few companies in the nanotech space that is currently producing and selling nanostructured products. A seasoned management team, extensive, market-tested IP, proven business model and significant customer commitments, made this a unique and compelling deal.”

####
Contact:
Douglas Raggio
UMA, Inc.
562-546-6006
draggio@umainc.net

Copyright © PowerMetal Technologies

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

Investments/IPO's/Splits

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Aspen Aerogels to Present at the 28th Annual ROTH Conference March 14th, 2016

Harris & Harris Group Announces Formation of Co-Investment Fund for Accredited Investors March 9th, 2016

Arrowhead to Present at Upcoming March Conferences March 1st, 2016

Materials/Metamaterials

Exploring phosphorene, a promising new material April 29th, 2016

Hybrid nanoantennas -- next-generation platform for ultradense data recording April 28th, 2016

NREL finds nanotube semiconductors well-suited for PV systems April 27th, 2016

Atomic magnets using hydrogen and graphene April 27th, 2016

Announcements

Cooling graphene-based film close to pilot-scale production April 30th, 2016

Personal cooling units on the horizon April 29th, 2016

Exploring phosphorene, a promising new material April 29th, 2016

The Translational Research Center at the University Hospital of Erlangen in Germany uses the ZetaView from Particle Metrix to quantify extracellular vesicles such as exosomes April 28th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic