- About Us
- Career Center
- Nano-Social Network
- Nano Consulting
- My Account
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
-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.
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
Makovsky + Company Inc.
Nanocomp Technologies, Inc.
603-442-8992 ext. 104
Copyright © Business WireIf 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.
|Related News Press|
News and information
Nanoantenna lighting-rod effect produces fast optical switches October 24th, 2016
Leading Advanced Materials Manufacturer Pixelligent Closes $10.4 Million in Funding: Capital Will Boost Capacity for North American Manufacturing, Drive Asian Expansion, and Continue Innovation in Solid State Lighting and OLED Display Applications August 16th, 2016
Harris & Harris Group to Host a Shareholder Update Call, Including a Presentation by One of Its Precision Health and Medicine Portfolio Companies, Muses Labs, Inc., on August 23, 2016 August 16th, 2016
Scientists find technique to improve carbon superlattices for quantum electronic devices: In a paradigm shift from conventional electronic devices, exploiting the quantum properties of superlattices holds the promise of developing new technologies October 20th, 2016
Move over, solar: The next big renewable energy source could be at our feet October 20th, 2016
New nanomedicine approach aims to improve HIV drug therapies October 24th, 2016
Unusual quantum liquid on crystal surface could inspire future electronics October 22nd, 2016
Study finds surface texture of gallium nitride affects cell behavior October 17th, 2016