Masterson Industries, a US-based materials company with headquarters in Albuquerque, New Mexico, has closed an investment from Cottonwood Technology Fund, a seed and early-stage technology commercialization fund, and Pangaea Ventures Fund III, an advanced materials venture capital fund which is sponsored by several corporations including BP’s lubricants subsidiary, Catrol, Asahi Glass Company, Asahi Kasei Innovation Partners, Bekaert, 9th Street Investments (a CoorsTek affiliate), JSR, Mitsubishi Chemical, Murata Manufacturing Company, Nitto Denko and Sabic Ventures.
The investment will be focused on commercializing Masterson’s Microgravity Enabled Materials technology.
Chris Erickson, general partner, Pangaea Ventures, said: “We’ve never seen anything like this and we are genuinely excited about the opportunity to work with Cottonwood to turn Masterson’s truly disruptive technology into a major force across multiple markets.”
Rich Glover, Masterson Industries president, said: “We’re very excited about having such a talented and experienced investment group on our team to help us efficiently transition our technology to waiting markets. With this funding, we’ve moved beyond the research and development phase and are now focused on ensuring routine, reliable, and consistent production of our materials.”
David Blivin, managing partner of Cottonwood Technology Funds, said: “Masterson represents the best of what New Mexico has to offer – smart experienced engineers with innovative ideas that can change markets. Being joined in this investment by Pangaea is a great endorsement given their depth of advanced materials expertise.”
Masterson Industries was formed in 2012 and is focused on the commercial production of microgravity enabled materials (MEMs), which have properties unique to manufacture/production in microgravity.