- About Us
- Nano-Social Network
- Nano Consulting
- My Account
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.”
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
|Related News Press|
Arrowhead Provides Response to New Minority Shareholder Announcement January 7th, 2017
Harris & Harris Group Announces a Proposed Strategic Restructuring December 20th, 2016
Molecular phenomenon discovered by advanced NMR facility: Cutting edge technology has shown a molecule self-assembling into different forms when passing between solution state to solid state, and back again - a curious phenomenon in science - says research by the University of Wa February 22nd, 2017
NovAliX Turns to High-Resolution Cryo-Transmission Electron Microscopy for Pre-Clinical Drug Discovery Research: Thermo Fisher Scientific’s Cryo-TEM provides critical information for small molecule and biologic drug discovery February 28th, 2017
Dream Chip Technologies Presents First 22nm FD-SOI Silicon of New Automotive Driver Assistance SoC: Advanced driver assistance system (ADAS) computer vision SoC developed for European THINGS2DO project with working first silicon fabricated on GLOBALFOUNDRIES’ 22nm FD-SOI Platfor February 27th, 2017