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NanoGram Corporation has secured a third round of
funding to the tune of $32 million that will be used to accelerate the
development of NanoGram’s proprietary silicon solar technology and its
advanced nano-materials solutions for flat panel displays, solid state
lighting, lithium-ion batteries, and printed electronics, the company
said.
"NanoGram is an agile company creating new market opportunities by understanding the needs of our customers and partners," said NanoGram President and CEO Dr. Kieran Drain. "Our expansion into the solar market and strong customer interest in our core nanomaterials solutions proves our technology has the potential to generate game-changing products. These new funds allow us to increase momentum."
“The application of NanoGram’s nanomaterials solution to the solar sector opens up an extremely exciting frontier in the development of cost-effective solar technology,” remarked Alex O’Cinneide, Partner at the Masdar Clean Tech Fund, a part of the Government of Abu Dhabi’s multi-billion dollar initiative in advanced energy technologies and sustainable development. “We believe that this application combined with the deep experience of their management team and their clearly articulated market strategy will achieve both near term successes and deliver on long term potential. Given the enormous promise of their technology, we are more than pleased to have a technology leader such as NanoGram in our portfolio.”
NanoGram claims that its Laser Reactive Deposition (LRD) technology enables 30 micron thin polycrystalline films and has established a strategic development and manufacturing supply relationship with Nagase & Co., Ltd. / Nagase ChemteX Corporation.
