RNT Secures Additional $14.3 Million in Series C Financing
Reactive NanoTechnologies, Inc. (RNT), developer and manufacturer of its patented NanoFoil�, recently announced it has secured $14.3 Million in a Series C round of financing led by Siemens Venture Capital and existing investor, Sevin Rosen Funds.
NanoFoil, a reactive nano-layered material that precisely controls the instantaneous release of heat energy for joining and reaction initiation applications, enables rapid joining of similar and dissimilar materials without incurring thermal damage. The company will use the funds to expand global sales, marketing and distribution, and for ongoing applications engineering and development.
“RNT's platform technology provides an easy-to-use and cost efficient solution to challenging requirements in an almost unlimited range of joining and energetics applications,” said Gerd Goette, Managing Partner at Siemens Venture Capital. “We are excited to work with the entire team and our co-investors to further accelerate RNT's rapid growth.”
“RNT’s technology is simply unmatched in its ability to deliver solutions for a wide range of applications,” said Steve Dow, General Partner, Sevin Rosen Funds. “With a strong portfolio of initial customers, an established manufacturing capability, an experienced management team and a broad, exclusive intellectual property portfolio, RNT is positioned to grow into a significant company.”
“This is clearly a great win for RNT and a strong endorsement of our patented NanoFoil and NanoBond technologies” said Joe Grzyb, CEO of RNT. “We have identified and validated a total available market opportunity of over $3.2 billion in joining and energetic applications. The investments from Siemens Venture Capital, part of one of the world largest electronics and engineering companies, new investor Eastward Capital Partners, Series B leader Sevin Rosen Funds, as well as each of our other current investors will help ensure that RNT is able to take full advantage of the enormous opportunity before us. As members of the RNT Board of Directors, Gerd Goette and Steve Dow will contribute their years of experience in building successful businesses. Gerd will also help RNT develop new relationships with potential users of RNT’s technology both within Siemens and at other European companies.”
Additional support for this round came from new investor Eastward Capital Partners and existing investors, SAS Investors, Toucan Capital Corp., Silicon Valley BancVentures and the State of Maryland Department of Business and Economic Development.
Headquartered in Hunt Valley, Maryland, RNT was founded in 2001 by engineering veterans Timothy P. Weihs, Ph.D., who now serves as Chief Technical Officer, and Omar M. Knio, Ph.D., who is RNT’s Senior Vice President. The company develops and manufactures NanoFoil to precisely control the instantaneous release of heat energy for reaction initiation and joining applications that current technology cannot effectively or economically address. RNT has also developed its patented NanoBond joining process to ensure the benefits of NanoFoil are maximized.
Commercial distribution of NanoFoil for energetics and joining applications is taking place from RNT’s onsite manufacturing facilities. The company is utilizing its financial backing from a variety of sources to further develop applications and processes, and craft its patented technology for additional markets. RNT has also signed licensing agreements with a number of Fortune 500 Companies. Its breakthrough technology has earned several prestigious awards.
For more information, please visit www.rntfoil.com