BASF: Investment in Nanotech Company
BASF Venture Capital GmbH, Ludwigshafen, Germany, is increasing its shareholding in SDCmaterials, Inc, Arizona, U.S. SDCmaterials develops and produces innovative nano materials for customers in the automotive and chemical industries as well as for the medical technology sector.
SDCmaterials has raised USD 6.3 million (approx. EUR 4.7 million) in its Series A financing round, of which BASF Venture Capital is providing USD 2 million (approx. EUR 1.5 million). Other investors include Emerald Technology Ventures. BASF Venture Capital’s U.S. subsidiary invested USD 600,000 in a seed financing round last year in SDCmaterials. SDCmaterials, which was founded in July 2004, will use the proceeds from the financing round to increase its workforce, and expand production capacity in the U.S. and Germany.
SDCmaterials plans to start small-scale production of nano materials at BASF’s production site Schwarzheide, Germany, in September 2008. The American start-up will invest roughly EUR 3 million in establishing pilot plant stations, laboratories and offices in the northern part of the site.
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