Home > Press > Nanocomp Technologies and DuPont Form Strategic Relationship: Materials science giant participates in Series C financing, taps Nanocomp as partner for next-generation armor and lightweight core structures
Abstract:
-Nanocomp Technologies, Inc., a developer of performance materials and component products from carbon nanotubes (CNTs), today announced it has entered into a financial and strategic development relationship with DuPont (NYSE: DD). In addition to participating in Nanocomp's current financing round, DuPont has agreed to work with Nanocomp to develop products utilizing its CNT sheet and yarn materials together with offerings from the DuPont Protection Technologies business unit, in support of further advancing ballistics protection and core structure applications for their markets.
Nanocomp Technologies and DuPont Form Strategic Relationship: Materials science giant participates in Series C financing, taps Nanocomp as partner for next-generation armor and lightweight core structures
Concord, NH | Posted on June 9th, 2012
With this announcement, DuPont becomes the latest entity to participate in Nanocomp's larger, $25 million Series C investment round from a syndicate of current and new strategic investors, expected to close later this year. Nanocomp will use the funding to expand its manufacturing capacity and underwrite market expansion, as it completes transition into a new, volume production facility in Merrimack, N.H. Nanocomp's CNT yarn and sheet products are finding use in advanced components in a number of critical U.S. Department of Defense and NASA programs.
"It goes without saying that DuPont brings significant value beyond capital in the form of research, development expertise as well as market access and commercialization support," said Peter Antoinette, president and CEO of Nanocomp Technologies. "This new relationship heralds the break-out phase of our company. Along with the recent selection of the company by the U.S. Department of Defense to supply materials for its programs, this transaction further solidifies the leadership position we have attained."
"We look forward to working together with DuPont to enable customers to better solve their problems with the novelmulti-functional electrical, structural and thermal performance characteristics of our CNT-based products," he said.
"Nanocomp is a strong fit for the next phase in our technology plan," added Thomas G. Powell, president of DuPont Protection Technologies. "They have uniquely taken carbon nanotube-based products to the next level, and we look forward to working with them to improve protection for the military and first responders, develop unprecedented energy-saving structures, and explore new offerings."
####
About Nanocomp Technologies, Inc.
Nanocomp Technologies (NTI) is delivering a new generation of advanced materials that provide revolutionary performance while saving energy. The Company is the only commercial producer of carbon nanotube-based lightweight sheets, tapes, wires, and yarns. Nanocomp’s products offer superior mechanical, thermal and electrical properties for aerospace and defense, aviation, automotive, energy and consumer applications. The U.S. Department of Defense has designated the Company’s materials as “critical for national defense.” Nanocomp recently opened a new 100,000 square foot advanced manufacturing facility in Merrimack NH, increasing its production capacity to meet the needs of defense and commercial customers.
For more information, please click here
Contacts:
Makovsky + Company Inc.
Andrew Bard
212-508-9618
or
Nanocomp Technologies, Inc.
John Dorr
603-442-8992 ext. 104
Copyright © Business Wire
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:
News and information
Pioneering breakthrough of chemical nanoengineering to design drugs controlled by light June 18th, 2013
Study Shows How the Nanog Protein Promotes Growth of Head and Neck Cancer June 18th, 2013
New Method to Synthesize Zinc Oxide Nanoparticles with High Catalytic Activity June 18th, 2013
Production of Polyaniline Biosensors Modified with Conductive Polymer Composites June 18th, 2013
VC/Funding/Angel financing/Loans/Leases/Crowdfunding
Dr. Ben J. Lipps designated as Chairman of the Management Board and Chief Executive Officer of Nanostart-holding MagForce AG June 17th, 2013
Long Island Capital Alliance Announces Participants for Biotech Technology Transfer Capital Forum: Event to Be Held on June 14 in Collaboration With Cold Spring Harbor Laboratory June 8th, 2013
CRIXlabs Joins the ROCK Health Incubator: ROCK Health is the world’s leading healthcare incubator looking to make meaningful change through scalable, innovative technology. June 5th, 2013
Glowing Plant Releases Maker Kit, Enabling Anyone to Make a Glowing Plant at Home: Glowing Plant seeks funds via crowdfunding and raises almost $400,000 May 31st, 2013
Nanotubes/Buckyballs
Unzipped nanotubes unlock potential for batteries: Rice University lab combines graphene nanoribbons with tin oxide for improved anodes June 13th, 2013
The Diabetes ‘Breathalyzer’: Pitt chemists demonstrate sensor technology that could detect and monitor diabetes through breath analysis alone June 10th, 2013
Los Alamos catalyst could jumpstart e-cars, green energy: The new material has the highest oxygen reduction reaction (ORR) activity in alkaline media of any non-precious metal catalyst developed to date June 4th, 2013
Even with Defects, Graphene is Strongest Material in the World: New Study Reveals Strength of CVD Graphene May 31st, 2013
Materials
Working backward: Computer-aided design of zeolite templates: Rice scientists apply drug-design lessons to production of industrial minerals June 17th, 2013
Discover the ‘Nanostructure Advantage’ at ECerS 2013, Booth 5: Innovnano presents nanostructured powders for high performance ceramics June 17th, 2013
Discovery of new material state counterintuitive to laws of physics June 14th, 2013
Ceramics in Paper Manufacturing including Advanced and Nano Materials: Author- Dr. Mahendra Patel, 420 pages; 32 chapters, Publ.2013 June 12th, 2013
Announcements
Pioneering breakthrough of chemical nanoengineering to design drugs controlled by light June 18th, 2013
Study Shows How the Nanog Protein Promotes Growth of Head and Neck Cancer June 18th, 2013
New Method to Synthesize Zinc Oxide Nanoparticles with High Catalytic Activity June 18th, 2013
Production of Polyaniline Biosensors Modified with Conductive Polymer Composites June 18th, 2013
Military
Unzipped nanotubes unlock potential for batteries: Rice University lab combines graphene nanoribbons with tin oxide for improved anodes June 13th, 2013
Polymer structures serve as 'nanoreactors' for nanocrystals with uniform sizes, shapes: Tiny chemistry June 11th, 2013
2-D electronics take a step forward: Rice, Oak Ridge labs make semiconducting films for atom-thick circuits June 10th, 2013
Noble way to low-cost fuel cells, halogenated graphene may replace expensive platinum June 6th, 2013