Nanocomp Technologies Inc. (Concord, N.H., USA), a developer of performance materials and component products from carbon nanotubes (CNTs), on June 5 announced it has entered into a financial and strategic development relationship with DuPont (Wilmington, Del., USA).
In addition to participating in Nanocomp’s current financing round, DuPont has agreed to work with Nanocomp to develop products using 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,” saysPeter 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.”