SouthWest NanoTechnologies gains $3m investment for carbon nanotube products from US growth capital investor Insight Technology Capital Partners

7 July 2009

Michigan, US-based growth capital investor Insight Technology Capital Partners is to invest up to $3m in SouthWest NanoTechnologies Inc., a developer and manufacturer of single-wall carbon nanotubes and specialty multiwall nanotubes.

SWeNT will use the proceeds from this equity investment from Insight’s Insight 2811 Technology Entrepreneur Fund to develop, manufacture and market new products as well as its current portfolio of carbon nanotube offerings, the company said.

Single and multi-wall carbon nanotubes consist of a hollow cylinder of carbon with a diameter equal to approximately one nanometer – a billionth of a meter. Carbon nanotubes possess extraordinary optical and electronic properties, tremendous strength and flexibility, and high thermal and chemical stability, and can be used in a wide range of applications in the automotive, aeronautics, electronics, displays, energy and healthcare markets.

Insight principal Joe Nathan said, ‘We welcome the opportunity to support SWeNT’s continued development as a world leader in carbon nanotechnology. Their leadership in product quality and performance, coupled with their proprietary scalable synthesis process, convinced us that SWeNT is the right vehicle for investment in this burgeoning area of materials technology.’

‘Insight is an ideal investment partner for SouthWest NanoTechnologies,’ added Dave Arthur, CEO, SWeNT. ‘They bring extensive financial resources, broad industry knowledge and a successful track record of investing in advanced materials companies. We look forward to working together and benefitting from their advice, counsel and contacts.’

Insight Technology Capital Partners is a $250m growth capital fund.

Copyright © 2009 NewNet

Tags: materials, private equity, venture capital

This story was published on Tuesday, July 7th, 2009 at 2:00 pm and is filed under North America, deals, energy efficiency. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply