October 19, 2007 — Nano-C Inc., a Westwood, Mass.-based company that develops nanostructured carbon materials, will receive about $2.9 million over three years from the National Institute of Standards and Technology (NIST), the company announced.

The grant covers development of nanostructured carbon materials, including fullerenes and single-walled carbon nanotubes, to dramatically increase yields and reduce costs, enabling wider application. The company was selected under the agency’s Advanced Technology Program (ATP). The company is cost sharing approximately 30 percent of project.

“ATP projects are selected based on scientific and technical merit, as well as potential for broad-based economic benefits,” said Viktor Vejins, president and CEO at Nano-C. “Substantial due diligence was done by ATP to validate high-market potential of nanostructured carbon materials and the high-risk, high-reward nature of the work. We are delighted to have been selected to develop a manufacturing process that will further advance nanostructured carbon materials for wider use.”