March 3, 2004 — SouthWest NanoTechnologies has secured private and public money to continue development of carbon nanotubes, according to a news release.

The Norman, Okla.-based firm, incorporated in 2001 to spin off nanotube research by the University of Oklahoma and ConocoPhillips, received additional funding from new and existing investors. It did not disclose the amount or sources, but it counts ConocoPhillips among its primary investors.

SouthWest also is using a two-year, $600,000 contract from NASA’s Small Business Innovation Research program to produce light, durable materials for aerospace applications. The follow-on contract supports the company’s process to manufacture single-walled carbon nanotubes and produce enough to meet the industry’s needs, the release said.