Date: Jul 28, 2015 Source: bizjournals (
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Angstron Materials Inc. has attracted $5 million from an unnamed investor to boost its commercialization efforts.
On Tuesday, the Dayton-based advanced materials producer announced the funding. It will be used to increase manufacturing capacity and bring key technologies to market.
Angstron makes graphene, a material that is strong, lightweight and a considered one of the best conductors of heat and electricity.
Company officials say its new investment partner is a key player in advanced materials and consumer electronics that brings extensive business and industry expertise to the table along with a portfolio of major customers and collaborators.
"The capital will allow us to expand our business and product development teams to fast-track commercialization of critical products such as our thermal management materials," said Ian Fuller, Angstron's vice president for business development and engineering.
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During the last year, Angstron perfected large scale manufacturing of graphene.
This latest funding — and another round, which is expected to close by the end of the year — could drive massive growth for the company. New deals could also position Angstron as a leader in advanced manufacturing, which would draw attention to the industry here on the Dayton region.
In May, Angstron signed a deal to partner with high-powered business development firm Stryke Industries in Fort Wayne, Ind. to break into the defense market.
Angstron touts itself as the world's largest volume producer of graphene, with a capacity of 300 metric tons per year.
Angstron and its sister company, Nanotek Instruments, have about 20 employees and operate in 22,000 square feet across several buildings just north of downtown Dayton.
Graphene is sold in powder form — which can be incorporated into materials and coatings — as well as a solid form, such as in sheets. Commercially, it's used in smartphones and tablets to disperse heat generated by chips. The material also is expected to translate well to electronic in military gear.
