Applied NanoWorks Secures $2.0 Million to Expand Nano-Materials Manufacturing.WATERVLIET, N.Y. -- Applied NanoWorks CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Eric Burnett today announced a $2.0 million Series A round of funding to expand Applied NanoWorks nano-materials manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. and bring its high performance nano-particles to market. The funding was co-led by High Peaks Ventures and FA Technology Ventures and will enable the company to expand manufacturing capacity, hire technical and marketing staff, and commercialize its innovative technology. Founded in 2003, Applied NanoWorks, Inc. has developed proprietary manufacturing technologies for the production of advanced nano-scale materials that deliver unmatched physical performance and cost dynamics. The products include nano-oxides and nano-phosphors produced in 2nm to 50nm sizes and are available in a variety of form factors. "We have a capital and energy efficient manufacturing process that produces nano-scale particles that are tunable to meet a wide range of market needs," stated Eric Burnett, President and CEO of Applied NanoWorks, "and we deliver the materials in forms that are easily integrated into product manufacturing processes, positioning Applied NanoWorks as a competitively superior solution for manufacturers." The company's manufacturing technology controls materials at the molecular level enabling the tuning of particle size Particle size, also called grain size, refers to the diameter of individual grains of sediment, or the lithified particles in clastic rocks. The term may also be applied to other granular materials. and the delivery of well suspended particles, which is an important feature to manufacturers. The engineered materials provide new and valuable properties including luminescence luminescence, general term applied to all forms of cool light, i.e., light emitted by sources other than a hot, incandescent body, such as a black body radiator. for lighting applications, UV blocking for building materials and electronics, and the required hardness and size for fine abrasive applications in the semiconductor manufacturing industry. "Applied NanoWorks has immediate market opportunity in both the coatings additives and chemical-mechanical planarization (CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information ) markets," said John Cococcia, Principal with FA Technology Ventures, "the Company's products deliver smaller particle size and more uniform distribution, resulting in increased hardness, better UV protection and significantly increased polishing performance to a developing world wide market of over $1 billion." The funding was co-led by FA Technology Ventures, an Albany, NY investment company that provides growth capital to early and expansion stage technology companies, and High Peaks Venture Partners, a Troy, NY venture capital firm that invests in early stage New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State technology companies. Co-investors in the funding were Fresh Tracks Capital, a Vermont based venture capital firm that invests in early stage private companies in Vermont and northern NY, and an industry based angel investor An individual who invests his or her own money in a private company, which is typically a startup. An angel investor is not an employee or member of a bank, venture capital firm or other financial institution that normally makes such investments. . "Applied NanoWorks is an early stage New York State nanotechnology company with a proven, scalable production technology," Russell W. Howard, Managing Director of High Peaks Venture Partners, stated, "it also has a very attractive business model and an experienced management team, two key factors we look for in a strong growth company." The investment included $883,000 from the New York State Common Retirement Fund. The New York Common Retirement Fund (CRF CRF abbr. chronic renal failure CRF Chronic renal failure ) is a large investor in both High Peaks Venture Partners and FA Technology Ventures. "Nanotech is the kind of cutting edge technology that is of growing importance to New York's economy. A diverse mix of businesses from high-tech to traditional manufacturing is critical for a vibrant and growing economy here in New York," New York State Comptroller The New York State Comptroller is the chief fiscal officer of the U.S. state of New York. The duties of the comptroller include auditing government operations and operating the state's retirement system. Alan G. Hevesi said. "That's why it is so important for us to invest in early-stage companies such as Applied NanoWorks that are expanding quickly and creating the types of specialized jobs that are increasingly in demand around the world. At the same time, I anticipate a positive return for the State pension fund." Applied NanoWorks has exclusive world-wide licenses for two fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. technologies from Rensselaer Polytechnic Institute Rensselaer Polytechnic Institute, at Troy, N.Y.; coeducational; founded and opened 1824 as Rensselaer School; chartered 1826. It was called Rensselaer Institute from 1837 to 1861. and has three technology patents pending. The Company was founded by CEO Eric Burnett, a successful entrepreneur on his third technology start-up, and CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. Partha Dutta, a world renowned expert in nano-crystal and nano-particle fabrication, associate professor with Rensselaer Polytechnic Institute, and inventor of the company's patented technologies. About Applied NanoWorks Applied NanoWorks, where nanotechnology transitions from the lab to the real world. A nano-materials development and manufacturing company, we produce nano-scale particles with unmatched physical performance and cost dynamics for industrial research and manufacturing applications. Our proprietary manufacturing technology produces high quality oxide, phosphor A rare earth material used to coat the inside face of a CRT. When struck by an electron beam, the phosphor emits a visible light for a few milliseconds. In color displays, red, green and blue phosphor dots are grouped as a cluster. See screen burn. and metal nano-materials in 2nm to 50nm sizes that are available in volumes ranging from research quantities to high volume purchasing and production agreements. For information visit our web site at www.appliednanoworks.com About High Peaks Venture Partners High Peaks Venture Partners (www.hpvp.com), based in Troy, NY, is a venture capital firm that invests in early-stage, high-growth, entrepreneurial companies throughout Upstate New York Upstate New York is the region of New York State north of the core of the New York metropolitan area. It has a population of 7,121,911 out of New York State's total 18,976,457. Were it an independent state, it would be ranked 13th by population. . With $46 million in capital, High Peaks is Upstate New York's largest early-stage venture fund. High Peaks is focused on emerging technology businesses throughout New York State, and is a part of the Village Ventures nationwide network of regionally focused venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: . The High Peaks team brings substantial experience as venture investors, entrepreneurs, and business advisors across a variety of industries. About FA Technology Ventures FA Technology Ventures (FATV), based in Albany, New York For other uses, see Albany. Albany is the capital of the State of New York and the county seat of Albany County. Albany lies 136 miles (219 km) north of New York City, and slightly to the south of the juncture of the Mohawk and Hudson Rivers. , is a leading early stage investor, providing venture capital, management and guidance for companies in the emerging growth sectors of Information Technology and Energy Technology. FA Technology Ventures is committed to helping build tomorrow's leading companies through its investments and looks for business ideas with the potential for greatness and experienced, passionate entrepreneurs to execute on them. To learn more about FA Technology Ventures, visit www.FAtechventures.com. About the Common Retirement Fund The $130 billion New York State Common Retirement Fund is an in-state private equity investment program. The fund, whose sole trustee is Hevesi, has committed $409 million to 16 managers located throughout New York State. The program provides market rate returns to the pension fund while providing capital for New York businesses. |
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