Peak Nanosystems LLC, a global company headquartered in Coppell that specializes in the development and deployment nanotechnology systems, has closed its Series C funding round with a $25 million investment from Connecticut-based Squadron Capital.
The new money is two-fold: Peak Nano will be able to acquire PolymerPlus and expand its in-house optical product development.
Cleveland, Ohio-based PolymerPlus has developed its own tech for optics and film capacitors that are ready for product launches in 2021. Through the acquisition, Peak Nano will get exclusive rights to that technology, as well as the IP on broad nanolayered film developed at Case Western Reserve University in Cleveland.
Peak Nano has a history with both entities.
“We have a great relationship with the Case Western Reserve University tech transfer office,” Chad Lewis, president of Peak Nano, said in a statement. “We worked closely with their team on past deals and again now with the acquisition of PolymerPlus.”
Peak Nano began a partnership with PolymerPlus in 2016 on the production of nanolayered films for high performance gradient refractive index (GRIN) lenses. The intent was to create a company that would commercialize GRIN optics, Jim Welsh, CEO of Peak Nano, said. The newly announced acquisition is the follow through on that effort—it “opens up the capacitor market for our thin film technology,” Welsh said.
Peak Nano is the parent company of Peak Nano Optics and Peak Nano Films. The company was built to unlock the potential of nanotechnology, and help large, industry-leading companies use it in the real world. The team defines itself like this:
We’re a turnkey commercialization engine for breakthrough nanotechnology, making disruption real in multiple markets. Our Peak Nano system streamlines the entire process, from nanotechnology research and innovation to rapid prototyping, manufacturing, capital, executive leadership, and distribution.
Currently, Peak Nano Optics is building a $30 million production facility in Cleveland. Once opened later this year, the company says it will be “the most advanced optical design and manufacturing facility in the world.”
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