New York Stock Exchange-listed materials science company DuPont has invested as part of a strategic development relationship in materials company Nanocomp Technologies.
As part of the $25m series C round, DuPont will work with Nanocomp to develop products utiliSing its CNT sheet and yarn materials and offerings from the DuPont Protection Technologies business unit, to advance ballistics protection and core structure applications.
Thomas Powell, president of DuPont Protection Technologies, said: “Nanocomp is a strong fit for the next phase in our technology plan. They have uniquely taken carbon nanotube-based products to the next level, and we look forward to working with them to improve protection for the military and first responders, develop unprecedented energy-saving structures, and explore new offerings.” Nanocomp lists on its website venture firms Innovation Ventures, which works with strategic partner Rohm and Haas Company, part of Dow Chemical, and Community Ventures as other backers as well as unnamed family offices and individuals.
Nanocomp previously raised $2.2m of a planned $2.5m round, according to a Securities and Exchange Commission filing in 2011.
It also $400,000 of a planned $3m round in 2008, according to another filing.
In 2006 the company raised $1.5m, according to another filing.