C3Nano completed its Series A funding round with US$3.2 million from GSR Ventures. The company looks forward to the funding allowing them to progress its technology, form joint development programs with customers and create strategic channel partnerships. C3Nano is the developer of a hybrid carbon nanotube (CNT) based off of transparent electrode ink and film that can be used for touch screens, OLED devices, PV solar panels and flexible displays.
C3Nano’s CNT technology is said to be more transparent than the traditional indium tin oxide- (ITO) based electrodes. The company points out that its material is solution-coated and printable, differing from the vacuum sputtering process that is used to create ITO. Further, C3Nano counters that its hybrid carbon-based material is more abundantly available than ITO and at a lower cost. Additionally, C3Nano asserts that as the supply of ITO decreases, it has become brittle and prone to cracking compared to their CNT technology, which is more flexible and transparent.
“We're really looking forward to commercializing this technology,” said Cliff Morris, chief executive officer of C3Nano. “For years the display industry has been searching for an alternative to ITO, but everything that came along either underperformed or was too expensive. C3Nano's material delivers a cost-effective, robust, printable, solution-coatable material that enables the industry to move forward without the intrinsic disadvantages and scarcity issues of ITO.”