Nanotechnology Now

Our NanoNews Digest Sponsors



Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > NaturalNano Closes $3.25 Million Deal – Will Use Proceeds To Develop Pleximer Product Line

Abstract:
Allowing NaturalNano to Meet Critical Unmet Market Needs in the $40 Billion Composites Industry.

NaturalNano Closes $3.25 Million Deal – Will Use Proceeds To Develop Pleximer Product Line

ROCHESTER, NY | Posted on March 8th, 2007

NaturalNano, Inc. (OTCBB: NNAN) (FWB: N3N) ( http://www.naturalnano.com ), a materials science company, today announced it has received a $3.25 million cash investment from Platinum Partners Long Term Growth IV and Longview Special Financing, Inc. through the issuance of Convertible Secured Notes. The transaction closed on March 7, 2007.

NaturalNano intends to use the bulk of the funds to complete the commercialization of a line of industrial grade polymer additives to be marketed under the Pleximertm brand name. "Interest in our proprietary breakthroughs in polymer chemistry is strong and widespread throughout the polymers industry. The nanomaterials that we enhance are part of the fastest growing segment of the $40 billion composites market. Pleximer technology makes these polymers, such as nylon and polypropylene, stronger, lighter and more flexible than today's composite materials, while reducing the cost of production and capital equipment needed by NaturalNano's customers," stated Cathy Fleischer, President and Chief Technology Officer.

Fleischer continued, "Even with the rapid growth of the overall market, there is a significant unmet market need that has been held back by complications of complexity, quality, and the up front capital investment needed to manufacture nanocomposites. Pleximer changes this equation by reducing the complications and quality control problems with a Pleximer additive that can be put right into the extruders on the production line, eliminating the complex steps usually associated with other nanocomposites."

NaturalNano recently demonstrated manufacturing scale trials of its Pleximer materials, producing excellent results. "The new capital received today will allow us to leverage our innovations into commercial products for which there is substantial demand and a true market need, which Pleximer addresses," stated Fleischer.

In connection with the financing, NaturalNano issued warrants for the purchase of a total of 25,106,254 shares of common stock; if the warrants are exercised in full, NaturalNano would receive an additional $6.9 million in proceeds. "We are honored by the vote of confidence in NaturalNano that this investment by Platinum and Longview represents," said Cathy Fleischer, President and Chief Technology Officer. Details of the transaction are described in a Report on Form 8-K filed today with the Securities and Exchange Commission and available at NaturalNano's website http://www.naturalnano.com .

####

About NaturalNano
NaturalNano, Inc. (OTCBB:NNAN) (FWB:N3N) is a nanomaterials company developing proprietary technologies and processes for providing novel properties for a wide range of applications. These include industrial polymers, plastics and composites; and additives to cosmetics, agricultural, and household products. NaturalNano holds over twenty issued or pending patents and proprietary know-how for extraction and separation processes, of halloysite and other nanotubes, in combination with other materials for a wide range of applications.

About Pleximer

NaturalNano’s Pleximer additive can be utilized with a broad range of polymers, enabling a wider array of capabilities. Pleximer offers the following benefits:
. Saves investment capital needed for equipment to fabricate nanocomposites;
. Reduces cost of production by eliminating process steps;
. Improves quality at reduced cost;
. Provides a stronger, lighter, less brittle, and more uniform output; and
. Covered by pending patents.

Pleximer additives consist of halloysite clay nanotubes functionalized, concentrated and mixed with various polymer materials using the Company’s proprietary processes. Plastics manufacturers currently use nanoclay additives to produce stronger, lighter composites but these improvements come at a high cost. The increased costs result from the complex exfoliation process required in separating the clay layers to obtain good dispersion and uniform properties, and the associated complexity of working with competing nanoclays.

For more information, please click here

Contacts:
Investor Relations Contact

Jim Blackman, PR Financial Marketing, LLC
713-256-0369


Media Contact

Ginny Brandreth, NaturalNano, Inc.
585-267-4810


Copyright © NaturalNano, Inc.

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

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

Materials/Metamaterials

Aculon Hires New Business Development Director December 19th, 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

Announcements

Scientists reveal breakthrough in optical fiber communications December 21st, 2014

Atom-thick CCD could capture images: Rice University scientists develop two-dimensional, light-sensitive material December 20th, 2014

Oregon researchers glimpse pathway of sunlight to electricity: Collaboration with Lund University uses modified UO spectroscopy equipment to study 'maze' of connections in photoactive quantum dots December 19th, 2014

Instant-start computers possible with new breakthrough December 19th, 2014

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







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE