July 7, 2009: SouthWest Nanotechnologies, a developer of single-wall and specialty multiwall carbon nanotubes, is receiving $3M equity from Troy, MI-based Insight Technology Capital Partners LP to push product development, manufacturing, and marketing for both existing and new nanotube products.
Last year the company opened a new manufacturing facility in Norman, OK, increasing SWNT capacity 100× and lowering unit costs by 90%. The company also has an applications development center near Boston. Taking on Insight as an investor brings “extensive financial resources, broad industry knowledge and a successful track record of investing in advanced materials companies,” said company CEO Dave Arthur, in a statement.
“We welcome the opportunity to support SWeNT’s continued development as a world leader in carbon nanotechnology. Their leadership in product quality and performance, coupled with their proprietary scalable synthesis process, convinced us that SWeNT is the right vehicle for investment in this burgeoning area of materials technology,” stated Insight Principal Joe Nathan.