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Posted: October 1, 2008
Nanoledge Announces Series A Round of Financing and Relocation to Montreal
(Nanowerk News) Nanoledge Inc., a high performance resins manufacturer specializing in the integration of nanoparticles into composites and the development of environmentally friendly materials, announced today that it has closed a multi-million dollar Series A round of venture financing co-led by Montreal based ID Capital and iNovia Capital, and with participation from Emertec Gestion of France.
With the closing of the new round of financing, Nanoledge has relocated from France to Boucherville, Québec.
Nanoledge was founded in France in 2001 and has over the years developed expertise in manufacturing resins that incorporate nanoparticles into composites while significantly improving overall product-performance. Its NANO IN™ base resins product line demonstrates third-party-validated improvements in strength, flexibility, toughness, conductivity and material fatigue.
"This investment is a testament to our success in the marketplace and investors' recognition of our ability to continue the challenge of enabling performance for a better and safer world of composite materials. We are now well positioned to innovate working on joint projects with partners such as Structil, Seal, SK Chemicals, Look Cycle, Babolat, Cobra, Suzlon and Huntsman improving their latest high-performance solutions. Nanoledge is looking forward to strengthening its North American customer base as well as further growing its presence in the Asian and European markets," said Franck Bennardi, President & CEO of Nanoledge.
"ID Capital was particularly impressed by the energy and drive of these entrepreneurs," commented Jean-Paul Tardif, Managing Partner of ID Capital. "Nanoledge's management has a problem solving approach versus a box moving approach and we are looking forward to assisting them in rapidly growing their business worldwide and expanding their product portfolio to meet the market demand per niche applications."
"What attracted us to Nanoledge was their ability to translate technical and manufacturing excellence into tangible products and business results, and proverbially - get out of the lab," added Josko Bobanovic, iNovia Capitalís Principal responsible for cleantech investments. "The resin market is a multi-billion dollar market and Nanoledge is enabling its customers to deliver innovative, safer and high-performing composites. We are particularly excited about the high growth opportunity in the ecologically friendly materials."