DuPont, a materials science company, has signed a financial and strategic development agreement with Nanocomp Technologies, a commercial producer of high performance carbon nanotube (CNT)-based sheets, wires, tapes, and yarns.
Based on the agreement, DuPont will take part in Nanocomp’s $25 million Series C financing round. In addition, the company has agreed to work together with Nanocomp to develop next-generation armor products and lightweight core structures by using CNT sheets and yarns along with products from the business unit of DuPont Protection Technologies.
Nanocomp will use the current investment to expand its production capacity and support market expansion. The CNT yarn and sheet materials are being used in advanced components in several key programs conducted by NASA and the U.S. Department of Defense. Nanocomp is moving into a new production plant located in Merrimack, New Hampshire.
Peter Antoinette, Nanocomp’s President and CEO, stated that the relationship with DuPont delivers considerable value beyond investment in terms of research and development know-how and commercialization support. He added that they are looking forward to work with DuPont to enable clients to better solve their issues with the use of CNT-based products that have advanced multi-functional thermal, structural and electrical performance features.
DuPont Protection Technologies’ President, Thomas G. Powell remarked that Nanocomp is an ideal fit for the upcoming phase of their technology plan. DuPont is looking forward to work with Nanocomp to find new offerings, develop unique energy-saving structures, and enhance protection for the military and others.