Posted: Jun 8th, 2012 Nanocomp Technologies and DuPont Form Strategic Relationship ( Nanowerk News ) Nanocomp Technologies, Inc., a developer of performance materialsand component products from carbon nanotubes (CNTs), todayannounced it has entered into a financial and strategic developmentrelationship with DuPont. In addition to participating inNanocomp's current financing round, DuPont has agreed to work withNanocomp to develop products utilizing its CNT sheet and yarnmaterials together with offerings from the DuPont ProtectionTechnologies business unit, in support of further advancingballistics protection and core structure applications for theirmarkets. With this announcement, DuPont becomes the latest entity toparticipate in Nanocomp's larger, $25 million Series C investmentround from a syndicate of current and new strategic investors,expected to close later this year. Nanocomp will use the funding toexpand its manufacturing capacity and underwrite market expansion,as it completes transition into a new, volume production facilityin Merrimack, N.H. Nanocomp's CNT yarn and sheet products arefinding 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 beyondcapital in the form of research, development expertise as well asmarket access and commercialization support," said PeterAntoinette, president and CEO of Nanocomp Technologies. "This newrelationship heralds the break-out phase of our company. Along withthe recent selection of the company by the U.S. Department ofDefense to supply materials for its programs, this transactionfurther solidifies the leadership position we have attained." "We look forward to working together with DuPont to enablecustomers to better solve their problems with thenovelmulti-functional electrical, structural and thermalperformance characteristics of our CNT-based products," he said. "Nanocomp is a strong fit for the next phase in our technologyplan," added Thomas G.
Powell, president of DuPont ProtectionTechnologies. "They have uniquely taken carbon nanotube-basedproducts to the next level, and we look forward to working withthem to improve protection for the military and first responders,develop unprecedented energy-saving structures, and explore newofferings." About Nanocomp Technologies, Inc. Nanocomp Technologies (NTI) is delivering a new generation ofadvanced materials that provide revolutionary performance whilesaving energy. The Company is the only commercial producer ofcarbon nanotube-based lightweight sheets, tapes, wires, and yarns.Nanocomp's products offer superior mechanical, thermal andelectrical properties for aerospace and defense, aviation,automotive, energy and consumer applications.
The U.S. Departmentof Defense has designated the Company's materials as "critical fornational defense." Nanocomp recently opened a new 100,000 squarefoot advanced manufacturing facility in Merrimack NH, increasingits production capacity to meet the needs of defense and commercialcustomers. For additional information, please visit.
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