WESTWOOD, Mass., March 27, 2013 /PRNewswire/ -- Nano-C, Inc., a leading developer of nanostructured carbon for use in energy and electronics applications, today announces a growth financing, which was led by Fontinalis Partners and saw continued participation from existing investors. Terms of the transaction are not disclosed.
Nano-C, Inc., founded in 2001, is a leader in nanostructured carbon, a critical element in emerging high-value applications in the electronics and energy markets. Nano-C is poised to enter a growth stage through its unique and well-positioned IP in specific applications. This growth stage comes at an opportune time as the company stands to benefit from favorable trends, such as demand for lighter weight, more efficient, and inherently more versatile components--all at a lower total cost to the consumer.
Nano-C manufactures carbon fullerenes, single-walled carbon nanotubes (SWCNT) and their chemical derivatives. These new forms of carbon are a radical departure from the commonly known forms of carbon: diamond, graphite, activated carbon, and carbon black. Their unique properties are essential for key technologies of the future, including transparent conducting films for displays, photo-resists, flash memory, transistors, photo-detectors, sensors, solar panels, batteries, ultra-capacitors, fuel cells, and composite materials, among others.
"Nano-C is pleased to complete this financing and believes the addition of Fontinalis Partners to be an affirmation of the company's market leading position in key markets, as well as optimism about future applications," says Viktor Vejins, President and CEO of Nano-C. "This financing provides Nano-C with the opportunity to advance its applications in high-value markets."
Fontinalis Partners, with offices in Detroit and Boston, is a strategic investment firm that was founded in 2009 to invest in innovative companies that are developing and commercializing technologies that support next-generation mobility. Nano-C's technology has numerous long-term applications in transportation and mobility, including vehicle structure (composite materials); intelligence (more efficient and lighter-weight sensors and electronic components for vehicle-to-vehicle communication); power train (more efficient energy generation and storage for fuel cells, batteries, and capacitors); and other advanced vehicle-specific applications.
"The core tenets of Nano-C's technology--including the enabling of cheaper, smaller, lighter, and more reliable components--align well with current and future technology demands," says Chris Cheever, a Founder and Managing Director of Fontinalis Partners who joins Nano-C's Board of Directors. "We look forward to supporting the company's current applications as well as a variety of exciting, next-generation solutions for transportation and mobility."
Located in Westwood, Massachusetts, Nano-C is a leading developer of nanostructured carbon for use in energy and electronics applications. These materials include fullerenes, carbon nanotubes and their chemical derivatives. Nano-C's mission is to play a key role in enabling applications of these materials and is committed to their responsible development and use. Nano-C is a privately held company founded in 2001. For more information, visit: www.nano-c.com
About Fontinalis Partners
Fontinalis Partners, with offices in Detroit and Boston, is a strategic investment firm focused on next-generation mobility and founded by Bill Ford, Ralph Booth, Mark Schulz, Chris Cheever and Chris Thomas. Fontinalis' mission is to leverage the firm's considerable management experience, market access, strategic relationships, international expertise, and background in transportation innovation to scale companies providing next-generation mobility solutions. Fontinalis Partners invests as a strategic partner on a stage-, structure-, and size-agnostic basis. Fontinalis Partners is not affiliated with Ford Motor Company. For further information about Fontinalis Partners, please visit www.fontinalis.com
SOURCE Nano-C, Inc.