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.”
Copyright © PowerMetal Technologies
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Pixelligent Closes $5.5 Million in Funding: Capital Will Be Used to Support Global Customer Growth December 12th, 2014
Nanometrics Announces Upcoming Investor Events November 19th, 2014
Eight19 secures £1m funding: Investment to develop production technology, and expand commercial activities for organic photovoltaics November 19th, 2014
Arrowhead to Present at Upcoming Conferences November 15th, 2014
ORNL microscopy pencils patterns in polymers at the nanoscale December 17th, 2014
Pb islands in a sea of graphene magnetise the material of the future December 16th, 2014
Graphene Applied in Production of Recyclable Electrodes December 13th, 2014
A golden thread through the labyrinth of nanomaterials December 12th, 2014
Silicon Valley-Based Foresight Valuation Launches STR-IP™, a New Initiative for Startups to Discover the Value of Their Intellectual Property December 18th, 2014
Iranian Scientists Use Nanotechnology to Increase Power, Energy of Supercapacitors December 18th, 2014
Iranian Researchers Produce Electrical Pieces Usable in Human Body December 18th, 2014
First Home-Made Edible Herbal Nanodrug Presented to Pharmacies across Iran December 17th, 2014