Nanocomp Technologies have announced it has entered into a financial and strategic development relationship with DuPont.
Founded in 2004, Nanocomp is currently the only—commercial producer of high performance strong, light and conductive sheets, tapes, wires and yarns comprised of high concentrations of carbon nanotube (CNTs) fibres.
DuPont will work with Nanocomp to develop products utilising its CNT sheet and yarn materials together with offerings from the DuPont Protection Technologies business unit, in support of further advancing ballistics protection and core structure applications for their markets.
DuPont has become the latest company to invest in Nanocomp’s latest series C round of funding which is expected to close later in the year. Nanocomp will use the new funding to expand its current manufacturing capacity and underwrite market expansion.
As it completes transition into a new, volume production facility in Merrimack, N.H. Nanocomp’s CNT yarn and sheet products are finding use in advanced components in a number of critical U.S. Department of Defence and NASA programs.
Peter Antoinette, president and CEO of Nanocomp Technologies.
It goes without saying that DuPont brings significant value beyond capital in the form of research, development expertise as well as market access and commercialisation support, this new relationship heralds the break-out phase of our company. Along with the recent selection of the company by the U.S. Department of Defence to supply materials for its programs, this transaction further solidifies the leadership position we have attained.