NanoGram Corporation, a leading developer and licensor of core
process technology for the manufacture of unique nanostructured
materials for optical, electronic and energy applications, today
announced that it has closed on a third equity round of $32M to date
to expand its solar technology and nanomaterials solutions businesses.
In addition to follow-on investments from existing investors ATA
Ventures, Bay Partners, Harris & Harris, Institutional Venture
Partners, Nth Power, Rockport Capital Partners, SBV Venture Partners,
and Technology Partners, NanoGram adds Global Cleantech Capital,
Masdar Clean Tech Fund, Mitsui Ventures, Nagase & Co., Nanostart AG,
TEL Venture Capital, and Yasuda Enterprise Development as new
investors.
The new funding will be used to accelerate development of
NanoGram´s proprietary silicon solar technology and its advanced
nanomaterials solutions for flat panel displays, solid state lighting,
lithium-ion batteries, and printed electronics.
"NanoGram is an agile company creating new market opportunities by
understanding the needs of our customers and partners," said NanoGram
President and CEO Dr. Kieran Drain. "Our expansion into the solar
market and strong customer interest in our core nanomaterials
solutions proves our technology has the potential to generate
game-changing products. These new funds allow us to increase
momentum."
Ira Ehrenpreis, General Partner at Technology Partners, concurs
stating, "NanoGram has already seen the successful spinouts of
NeoPhotonics and NanoGram Devices, and is now pursuing additional
exciting Cleantech opportunities in new large markets with their
energy and advanced materials technologies. Managed by seasoned
executives, the company continues to execute towards their vision of
being a leading provider of nano-enabled materials solutions to their
customers and partners."
"The application of NanoGram´s nanomaterials solution to the solar
sector opens up an extremely exciting frontier in the development of
cost-effective solar technology," remarked Alex O´Cinneide, Partner at
the Masdar Clean Tech Fund, a part of the Government of Abu Dhabi´s
multi-billion dollar initiative in advanced energy technologies and
sustainable development. "We believe that this application combined
with the deep experience of their management team and their clearly
articulated market strategy will achieve both near term successes and
deliver on long term potential. Given the enormous promise of their
technology, we are more than pleased to have a technology leader such
as NanoGram in our portfolio."
Dr. Paul Kloppenborg, CEO of Global Cleantech Capital and an
experienced solar investor who was one of the early active investors
in Renewable Energy Corporation (REC) and Q-Cells, states, "We believe
that by helping NanoGram to commercialize their proprietary solar
knowledge we accelerate our own solar investment program to deliver
the high efficiencies of crystalline silicon with the cost savings of
thin film. I believe NanoGram´s solar technology has the potential to
contribute to the cost breakthrough in next generation photovoltaic
technologies."
The NanoGram Solutions business unit, which serves customers and
partners in the optical, electronic, and energy arenas, will use the
new funds to hasten the commercial realization of advanced
nanomaterials solutions currently in development. These solutions,
when coupled with NanoGram´s complete licensing package and
production-scale Nanoparticle Manufacturing (NPM(TM)) equipment, offer
customers and partners the ability to secure competitive advantages
for their applications through higher levels of performance and
innovative cost-saving processing routes.
NanoGram today also announced the addition of Timothy H. Starkey
as vice president of Solar Manufacturing and Benoit Pouliquen as
independent director. Mr. Starkey joins the NanoGram Solar business
unit and will oversee the team responsible for the design, integration
and operation of a solar module pilot plant. Mr. Starkey brings over
30 years of industry experience including executive management roles
at Miasole, JDSU, SpectraSwitch, and Komag.
Mr. Pouliquen joins the board of directors having most recently
served as president and CEO of Sheldahl, a manufacturer of flexible
circuits and technical materials which he successfully took private
and sold to Flextronics in 2004. Prior to Sheldahl, Mr. Pouliquen was
president and COO of BMC Industries and president of the electronics
division of Johnson Matthey where he completed the successful sale of
the division to Allied Signal, Inc. in 2000.
About NanoGram
NanoGram Corporation develops and licenses core process technology
that enables the manufacture of unique nanoscale compositions for
optical, electronic and energy products. The company has developed an
extensive intellectual property portfolio that is expanding the
boundaries of nanomaterials technologies and enabling the development
and manufacture of new generations of materials, devices, components
and applications across a broad range of industries. The NanoGram KK
office in Shinjuku, Tokyo supports its growing presence in Japan,
while the NanoGram Korea office in Seoul serves local customers in
that country. NanoGram has established a strategic development and
manufacturing supply relationship with Nagase & Co., Ltd. / Nagase
ChemteX Corporation. Additional information about NanoGram is
available at www.nanogram.com.
