DENVER, March 13, 2019 /PRNewswire/ -- Mallinda Inc, an early pioneer in reversible thermoset resins, announces the close of a $2 million strategic investment by SABIC. This round of financing will enable Mallinda to scale up and to deliver its first commercial product, and accelerate the development of its high-performance materials for the transportation segment.
Mallinda's reversible thermoset technology is changing the way composite parts are produced. Long curing times are an impediment to the adoption of lightweight composite materials in high volume industries like the automotive segment due to prohibitively long cycles times. Mallinda's pre-cured reversible thermoset composite materials not only eliminate refrigerated transport and storage, eliminate scrap, and are indefinitely shelf-stable, but also 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," said Dr. Fahad Al-Sherehy, SABIC VP of Technology & 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," said 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."
Mallinda is improving the manufacturing dynamics of composite part production. By eliminating the curing step from downstream manufacturing processes, Mallinda's vitrimer-enabled, reversible thermoset composites not only improve cycle time to enable high volume production of composite parts, but its technology contributes to the circular economy. Mallinda's end-of-life thermoset composites can be efficiently recycled back to monomer in an energy neutral environment for the recovery and reuse of resin and reinforcing fibers. For additional information, please visit www.mallinda.com.
SABIC is a global leader in diversified chemicals headquartered in Riyadh, Saudi Arabia. We manufacture on a global scale in the Americas, Europe, Middle East, and the Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high-performance plastics, agri-nutrients, and metals.
We support our customers by identifying and developing opportunities in key end markets such as construction, medical devices, packaging, agri-nutrients, electrical and electronics, transportation and clean energy.
SABIC has more than 33,000 employees worldwide and operates in around 50 countries. Fostering innovation and a spirit of ingenuity, we have 11,738 global patent filings and have significant research resources with innovation hubs in five key geographies – USA, Europe, Middle East, South Asia, and North Asia.
The Saudi Arabian government owns 70 percent of SABIC shares with the remaining 30 percent publicly traded on the Saudi stock exchange.
SOURCE Mallinda Inc