Nanochemonics announces growth financing

Sept. 26, 2006 — Nanochemonics Inc., a Pulaski, Va., producer of a broad range of iron oxide nanoparticles, announced that Spotswood Capital LLC, a Greensboro, N.C .based investment firm, has agreed to provide growth capital to fuel the commercialization of the company’s portfolio of iron oxide based nanoparticles.

Nanochemonics says its iron oxide-based products can be used to provide unique solutions for companies involved in mining, purification and separations, coatings, cosmetics, catalysis, environmental remediation as well as in traditional applications in magnetic media, inks and toners. The company has produced and sold commercial quantities of nanoparticle iron oxides for coating and magnetic applications since 1997, and says it has the commercial capability to produce de-agglomerated particles as small as 2 nanometers.

The company has also developed other inorganic mixed metal nanoparticle oxides, and continues to expand its product line and offerings. Current monthly production capacity is in excess of 600 metric tons of nanoparticle iron oxide in aqueous, dry powder, or press-cake form.

Cary Street Partners LLC of Richmond, VA acted as financial advisor to Nanochemonics Inc. in arranging the financing and will continue to provide strategic advisory service.


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