Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > RNT Secures Additional $14.3M in Series C Financing

Abstract:
Siemens Venture Capital and Existing Investor, Sevin Rosen Funds, Lead Round

RNT Secures Additional $14.3M in Series C Financing

HUNT VALLEY, MD | Posted on June 13th, 2007

Reactive NanoTechnologies, Inc. (RNT), developer and manufacturer of its patented NanoFoil®, today announced it has secured $14.3M in a Series C round of financing led by Siemens Venture Capital and existing investor, Sevin Rosen Funds.

NanoFoil, a reactive nano-layered material that precisely controls the instantaneous release of heat energy for joining and reaction initiation applications, enables rapid joining of similar and dissimilar materials without incurring thermal damage. The company will use the funds to expand global sales, marketing and distribution, and for ongoing applications engineering and development.

"RNT's platform technology provides an easy-to-use and cost efficient solution to challenging requirements in an almost unlimited range of joining and energetics applications," said Gerd Goette, Managing Partner at Siemens Venture Capital. "We are excited to work with the entire team and our co-investors to further accelerate RNT's rapid growth."

"RNT's technology is simply unmatched in its ability to deliver solutions for a wide range of applications," said Steve Dow, General Partner, Sevin Rosen Funds. "With a strong portfolio of initial customers, an established manufacturing capability, an experienced management team and a broad, exclusive intellectual property portfolio, RNT is positioned to grow into a significant company."

"This is clearly a great win for RNT and a strong endorsement of our patented NanoFoil and NanoBond technologies" said Joe Grzyb, CEO of RNT. "We have identified and validated a total available market opportunity of over $3.2 billion in joining and energetic applications. The investments from Siemens Venture Capital, part of one of the world largest electronics and engineering companies, new investor Eastward Capital Partners, Series B leader Sevin Rosen Funds, as well as each of our other current investors will help ensure that RNT is able to take full advantage of the enormous opportunity before us. As members of the RNT Board of Directors, Gerd Goette and Steve Dow will contribute their years of experience in building successful businesses. Gerd will also help RNT develop new relationships with potential users of RNT's technology both within Siemens and at other European companies."

Additional support for this round came from new investor Eastward Capital Partners and existing investors, SAS Investors, Toucan Capital Corp., Silicon Valley BancVentures and the State of Maryland Department of Business and Economic Development.

####

About Reactive NanoTechnologies, Inc.
Headquartered in Hunt Valley, Maryland, RNT was founded in 2001 by engineering veterans Timothy P. Weihs, Ph.D., who now serves as Chief Technical Officer, and Omar M. Knio, Ph.D., who is RNT’s Senior Vice President. The company develops and manufactures NanoFoil to precisely control the instantaneous release of heat energy for reaction initiation and joining applications that current technology cannot effectively or economically address. RNT has also developed its patented NanoBond joining process to ensure the benefits of NanoFoil are maximized.

Commercial distribution of NanoFoil for energetics and joining applications is taking place from RNT’s onsite manufacturing facilities. The company is utilizing its financial backing from a variety of sources to further develop applications and processes, and craft its patented technology for additional markets. RNT has also signed licensing agreements with a number of Fortune 500 Companies. Its breakthrough technology has earned several prestigious awards including the 2005 “R&D 100” from R&D Magazine, the 2005 Nano 50™ from NASA Nanotech Briefs Magazine and recognition in The National Nanotechnology Initiative Strategic Plan in December 2004.

For more information please visit http://www.rntfoil.com .

About Siemens Venture Capital

Siemens Venture Capital (SVC) is the corporate venture organization for Siemens AG, one of the largest global electronics and engineering companies, with reported worldwide sales of 87.3 billion euros in fiscal 2006. SVC's goal is to identify and fund investments in emerging and innovative technologies that will enhance the core business scope of Siemens, particularly in the focus areas of long-term growth markets such as Energy & Environmental Care, Automation & Control, Industrial & Public Infrastructure, and Health Care.

To date, we have invested over 700 million euros in more than 100 startup companies and 35 venture capital funds, making venture capital at Siemens an integral component of the Siemens innovation and growth strategy and supplementing its in-house research and development activities (5.7 billion euros and 50,000 R&D experts in 2006).

SVC is located in Germany (Munich), in the U.S. (San José, CA and Boston, MA), in China (Beijing and Shanghai), in India (Mumbai and Bangalore), and is active through Siemens´ regional unit in Israel. SVC is part of a greater network at Siemens whose mission is to drive technological innovation by supporting startup companies. In addition to Siemens Venture Capital, Siemens Technology Accelerator and Siemens Technology-To-Business Center also contribute to Siemens’ innovation strategy. Their individual mandates are defined according to financing stages and industry focus. More information can be found at: http://www.siemensventurecapital.com .

About Sevin Rosen Funds

Sevin Rosen Funds is a top-tier venture capital firm with a record of funding successful companies since 1981. The SRF partnership has consistently made early-stage investments in pioneering technologies and companies with the potential to create new markets. The partners’ broad range of venture and operating experiences in successful technology companies translates into a sustained commitment and contribution to the development of the ventures funded. The firm has offices in Dallas, Palo Alto and Austin. For more information, please visit http://www.srfunds.com .

For more information, please click here

Contacts:

Media:
Vendeloo Inc.
Wendy Simmons
718-522-9873

or
Reactive NanoTechnologies, Inc. (RNT)
John Hannafin
410-771-9801
VP Business Development & Marketing

Copyright © Business Wire 2007

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

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

Arrowhead Issues Open Letter to Shareholders October 9th, 2014

PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Materials/Metamaterials

Researchers patent a nanofluid that improves heat conductivity October 22nd, 2014

Materials for the next generation of electronics and photovoltaics: MacArthur Fellow develops new uses for carbon nanotubes October 21st, 2014

Super stable garnet ceramics may be ideal for high-energy lithium batteries October 21st, 2014

Could I squeeze by you? Ames Laboratory scientists model molecular movement within narrow channels of mesoporous nanoparticles October 21st, 2014

Announcements

SUNY Polytechnic Institute Invites the Public to Attend its Popular Statewide 'NANOvember' Series of Outreach and Educational Events October 23rd, 2014

Advancing thin film research with nanostructured AZO: Innovnano’s unique and cost-effective AZO sputtering targets for the production of transparent conducting oxides October 23rd, 2014

Strengthening thin-film bonds with ultrafast data collection October 23rd, 2014

RF Heating of Magnetic Nanoparticles Improves the Thawing of Cryopreserved Biomaterials October 23rd, 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