Binghamton, New York (November 12, 2008) - NanoMas Technologies, Inc., a world leader in the development of low-cost and highly conductive metallic nanoparticles, announced the recent closing of $3.2 million in its Series A financing. Lead investor BASF Venture Capital GmbH was joined by Earthrise Capital Fund LP and NanoMaterials Investors LLC, a local investor group. Ms. Ann Partlow, General Partner of Earthrise Capital and Dr. Maximilian Biberger, CEO of SDC Materials have joined the NanoMas board as directors. The board has also added Dr. Andre Moreira, Investment Manager with BASF Venture Capital GmbH and Mr. Lawrence Schorr, Managing Director of NanoMaterials Investors as observers. NanoMas intends to use the proceeds to further the commercialization of nano-scale metallic particles for use in printed electronics, conductive pastes, solar cells and IC chip packaging.
Dr. Zhihao Yang, the President and Chief Technology Officer of NanoMas, said, "We are extremely excited to be working with such ideal partners. We expect to benefit significantly from the extraordinary technical resources and commercial reach of BASF, the exceptional track record and company-building expertise of the principals of Earthrise Capital, and the critical support and guidance of our local investor group."
"This investment strengthens our development work in nanotechnology, one of BASF's five growth clusters. Besides, the NanoMas technology complements BASF's activities in Printed Electronics," adds Dr. Andre Moreira, Investment Manager with BASF Venture Capital GmbH.
Ann Partlow, general partner of Earthrise Capital, said, "We view NanoMas Technologies' patented metallic nanoparticle technology as a key enabler of a new generation of electronic devices, characterized by lower costs, efficient materials' use and cleaner processes. It's a good fit with our interest in innovative materials and new manufacturing processes, and we're especially pleased to invest in a New York-based company."
Founded by three seasoned nanotechnologists, NanoMas was incorporated in 2006 and headquartered in the university start-up suite at the Innovative Technologies Complex at Binghamton University (SUNY) in Binghamton, New York. The company has lab facilities in Endicott, NY, also the home to Binghamton University's Center for Advanced Microelectronics Manufacturing (CAMM), funded initially by FlexTech Alliance (formerly US Display Consortium) as a global leader in developing next generation roll-to-roll (R2R) electronics manufacturing technologies. Dr. Bahgat Sammakia, the director of CAMM, said: "We are delighted to witness the birth and growth of NanoMas, one of the CAMM member companies. The BASF-lead venture capital investment is recognition of world-leading technology based in the Binghamton area. The CAMM, which was founded by Binghamton University, Endicott Interconnect Technologies and Cornell University, is pleased to be collaborating with NanoMas in the area of flexible electronics and we look forward to developing innovative commercial products."
"We are so grateful to have such wonderful infrastructure around us, which provides us a great platform to closely work with our customers to develop the best materials and technologies for electronics manufacturing." Dr. Yang further acknowledged, "We also highly appreciate the enthusiasm and support brought in by our local communities, including Binghamton University, Endicott Interconnect Technologies, and Southern Tier Opportunity Coalition Angel Investment Network."
About NanoMas Technologies
NanoMas Technologies, Inc. is a technology leader in nanomaterials development and commercialization. Its proprietary technologies integrate precision nano-scale engineering with low-cost mass production processes, resulting in the highest-performing conductive and semiconductive nanoparticle inks and pastes for the emerging printed electronics industry. For more information, see www.nanomastech.com
About BASF Venture Capital GmbH
BASF Venture Capital GmbH was established in 2001 as a wholly owned subsidiary of BASF Future Business GmbH, Ludwigshafen, Germany, with the aim of exploring new growth potentials based on investment in startup companies and funds. BASF Venture Capital GmbH's financial commitment per company is in the range of one to five million euros, with active support provided for young start-ups. BASF Venture Capital GmbH selects businesses for investment whose success factors include innovative chemistry-based solutions and which are of strategic interest for BASF. More information about BASF Venture Capital GmbH is available at www.basf-vc.de.
About Earthrise Capital Fund LP
Earthrise Capital invests in emerging technologies for more efficient, cost-effective and sustainable use of critical natural resources and materials. The Earthrise investment team has decades of collective experience in energy and environmental technology investing. See www.earthrisecapital.com.
About NanoMaterials Investors LLC
NanoMaterials Investors LLC is comprised of investors from the STOC Angel Investment Network (STOC-AIN) based in Binghamton, NY seeking local business investment opportunities. The Southern Tier Opportunity Coalition (STOC) was formed in 2002 as a not-for-profit private sector/academic partnership initiative to help address economic growth in the Southern Tier of New York State. For more information, see www.stoc-ny.com.