SouthWest NanoTechnologies Receives $3 Million Investment
July 8, 2009
NORMAN, OK -- SouthWest NanoTechnologies Inc. (SWeNT), a developer and manufacturer of single-wall carbon nanotubes and specialty multiwall nanotubes, will receive up to a $3 million equity infusion from the Insight Technology Capital Partners, LP (Insight), a growth capital fund based in Troy, MI.
SWeNT will use the proceeds from this equity investment to develop, manufacture and market new products as well as its current portfolio of carbon nanotube offerings.
SWeNT expanded production with a new manufacturing facility in Norman, OK, late last year. The expansion increased single-wall carbon nanotube production capability 100-fold at one-tenth the unit cost.
SWeNT also has an applications development center in the Boston, MA, area, where the company can work with customers on integrating nanotubes into their products.
Single and multi-wall carbon nanotubes consist of a hollow cylinder of carbon with a diameter equal to approximately one nanometer – a billionth of a meter. Carbon nanotubes possess extraordinary optical and electronic properties, tremendous strength and flexibility, and high thermal and chemical stability. Today, carbon nanotubes are used in a wide range of applications in the automotive, aeronautics, electronics, displays, energy and healthcare markets.