NanoDynamics raises $12 million

July 27, 2004 — NanoDynamics Inc., a Buffalo, N.Y., nanomaterials developer, announced closing a $12-million second round of private equity financing.

The investors were not disclosed. The company said it would use the funds to continue nanomaterial development, establish commercial production facilities and introduce components and devices.

The company operates four separate business units — NDMaterials, NDComponents, NDEnergy, and NDInnovations — each of which addresses different markets that can use its nanomaterials.

The company has now raised a total of 16 million.

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