Mallinda raises strategic investment from SABIC
The Colorado startup aims to scale up its pre-cured thermoset composite materials for use in the transporation industry.
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Mallinda Inc. (Denver, Colo., U.S.), manufacturer of reversible thermoset resins, has announced that it has closed a $2 million strategic investment from SABIC (Riyadh, Saudi Arabia). Mallinda says that this round of financing will enable it to scale up and to deliver its first commercial product, as well as to accelerate the development of its high-performance materials for the transportation segment.
In addition, Mallinda also recently received $250,000 in funding from the Colorado Office of Economic Advancement, as part of the office’s Advanced Industries Accelerator Grant Program.
Mallinda’s pre-cured reversible thermoset composite materials reportedly eliminate refrigerated transport and storage, eliminate scrap and are indefinitely shelf-stable, and they also are said to significantly improve cycle time dynamics. In addition, Mallinda’s materials contribute to the circular economy as its end-of-life composite materials can be efficiently recycled back to monomer in solution.
“Mallinda’s technologies and its lightweight composite materials have the potential for SABIC to become more competitive by shortening the production cycle and reducing cost,” says Dr. Fahad Al-Sherehy, SABIC VP of technology and innovation. “Our investment in Mallinda echoes SABIC leadership in promoting and supporting innovative research in the field of thermoset resins and high-performance materials. This strategic investment will help Mallinda in both accelerating its development process and in delivering commercial products. We are excited to support Mallinda in this new phase of growth.”
“Mallinda is committed to supplying the composite material of choice for lightweight structural applications across industry segments,” says Chris Kaffer, Mallinda co-founder and CEO. “SABIC’s decades of industry expertise, supply chain and extensive global polymer production infrastructure will play a pivotal role as we move into our next stage of growth. We are excited about the road ahead.”
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