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Posted: February 4, 2010
Ursataur Capital Management L.P. and BASF Venture Capital GmbH invest in Quantiam Technologies Inc.
(Nanowerk News) Ursataur Capital Management L.P. and BASF Venture Capital GmbH have invested $6 million in Quantiam Technologies Inc. Quantiam develops and commercializes disruptive, world-first new products based on advanced materials, catalysts, coatings and surfaces for extreme-operating environments and energy-related applications.
Quantiam has developed three key coating families for surfaces of complex shapes that are applied (i) to petrochemical furnace coils to reduce carbon (coke) formation by catalyzed gasification during hydrocarbon steam pyrolysis for olefins production, resulting in increased operating profitability through reduced energy consumption, lower greenhouse gas emissions, and increased operating online time and plant efficiency (this technology is known as Catalyzed-Assisted Manufacture of Olefins or "CAMOL"), (ii) to oil & gas extraction and processing industry equipment to extend the useful life of high value parts reducing their service, overhaul and replacement frequency by enhancing wear and corrosion resistance, and (iii) to protect critical equipment in defence applications subject to extreme operating environments. Quantiam's customers include several of the petrochemical industry's leading olefins producers, leaders in the oil and gas industry, and the United States Department of Defense. The CAMOL technology development was funded in part with a contribution from Sustainable Development Technology Canada (SDTC) and an investment from Industry Canada's Technology Partnerships Canada (TPC Program). Development of Quantiam's wear and corrosion coatings was funded in part by the National Research Council of Canada - Industrial Research Assistance Program (NRC-IRAP).
Quantiam will use the proceeds of the investment and further investment from its existing shareholder base to finance its growth, including a manufacturing expansion that will more than triple its capacity.
"We are thrilled to have the support of Ursataur Capital Management and BASF Venture Capital as we commercialize our disruptive coatings through mutually rewarding customer partnerships supported by our capacity expansion. Our investment partners' experience in supporting the growth of businesses, their technical and commercial expertise, and their industry knowledge will add value to Quantiam from day one and we look forward to their perspectives and involvement in growing Quantiam as both shareholders and members of our Board of Directors", noted Steve Petrone, Chief Executive Officer and Founder of Quantiam Technologies Inc.
About Quantiam Technologies Inc.
Quantiam Technologies Inc. was founded in 1998 by Dr. Steve Petrone to develop and commercialize disruptive, world-first new products based on advanced materials, catalysts, coatings and surfaces for extreme-operating environments and energy-related applications. Quantiam provides the most advanced high-performance coatings in the world for internal-surfaces of complex shapes such as tubulars with a coating capacity growing from 1 million-in(2)/yr to 3 million-in(2)/yr (6 to 19 million-cm(2)/yr) and tube-lengths of up to 20 feet (6 metres) in late 2010. Additional information about Quantiam, its technologies, products and services is available at www.quantiam.com.