May 19 2011
3M, through its New Ventures Business, has invested in GoNano Technologies Inc., a developer and manufacturer of high surface area nanomaterials for pollution control, catalysis, composites and sensory technologies headquartered in Moscow, Idaho. Terms of the transaction were not disclosed.
GoNano Technologies applies its versatile silica-based Nanospring technology to solve problems for customers seeking high surface area next generation solutions such as catalytic converters, Carbon Capture & Recycle and continuous flow reactors. GoNano Technologies was founded in 2007 for the purpose of commercializing the Nanospring technology platform, which was developed over a decade long collaboration between Washington State University and University of Idaho.
"GoNano Technologies' unique technology platform offers significant performance improvements for chemical flow reactions that benefit from large surface areas," Stefan Gabriel, president, 3M New Ventures, said. "The combination of this potentially game-changing nanomaterial with our technology platforms further stimulates disruptive innovation and creates new business opportunities in the catalytic conversion space for 3M."
"3M is recognized as a global technology leader in the materials industry," said Tim Kinkeade, Chief Executive Officer of GoNano Technologies Inc. "We are excited to partner with a company that shares our strong commitment to innovation and we look forward to working with 3M to advance transformational products and processes based on the Nanospring platform."