SouthWest NanoTechnologies
Inc. (SWeNT), a leading developer and manufacturer of Single-wall Carbon
Nanotubes and Specialty Multiwall Nanotubes will receive up to a $3 million
equity infusion from the Insight Technology Capital Partners, LP, (Insight)
a Growth Capital Fund based in Troy, Michigan.
SWeNT will use the proceeds from this equity investment from the Insight 2811
Technology Entrepreneur Fund managed by Insight to develop, manufacture and
market new products as well as its current portfolio of carbon nanotube offerings.
SWeNT expanded production with a new manufacturing facility in Norman, Oklahoma
late last year, increasing its single-wall carbon nanotube production capability
100-fold at one-tenth the unit cost. Its scalable, low-cost CoMoCAT® process
ensures consistent high quality and the flexibility to provide tailored products.
SWeNT also has an applications development center in the Route 128/Boston,
Massachusetts area, where SWeNT can work with customers on integrating SWeNT
nanotubes into their products. 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. Today, carbon nanotubes are used in a wide range of
applications in the automotive, aeronautics, electronics, displays, energy and
healthcare markets.
In announcing their investment, 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,”
explains Dave Arthur, CEO. “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.”