Air Products and Nanotechnologies, Inc. announce joint development and equity investment agreement

20-Jun-2003
Nanotechnologies Inc. announced today that it has closed a strategic round of funding, led by an equity investment from and joint development agreements with Air Products & Chemicals. The company's previous investors, Techxas Ventures, Castletop Capital, Harris & Harris Group, Inc., Eyes of Texas Partners and Capital Conceptions also participated. The new funding will allow Nanotechnologies, Inc. to continue to scale its current operations towards full commercialization. Nanotechnologies' proprietary pulsed plasma technology produces high performance nanoparticles with applications in transparent coatings, anti-microbial products, and electronic materials, for example. In the past year, the company has focused on its unique ability to produce metal nanoparticles such as silver, aluminum and copper. "nanoparticles are a key enabling technology to many current and future Advanced Materials product platforms. We chose to work with Nanotechnologies because of its unique process, which produces outstanding metal and metal oxide nanoparticles. Their technology is scalable and economical and provides great potential value for Air Products' targeted high growth markets in our Performance Materials Division," said Jeffrey T. DePinto, business development manager for nanotechnology Strategies at Air Products. Randy Bell, Nanotechnologies president and CEO stated, "We are excited at the opportunity to work with Air Products. We believe that the combined nanomaterials and formulations expertise of the two companies will significantly accelerate the development of commercial applications incorporating our nanoparticles. This partnership exemplifies our strategy of forming key alliances with leaders in their respective industries."

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