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SWeNT Announces $2.7 Million in New Financing

Will fund growth, plant expansion and technical personnel

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

SouthWest NanoTechnologies Inc. (SWeNT) has received $2.7 million in new financing in two transactions. 

Approximately $1.7 million was received as part of a $4 million round of convertible notes. An additional $1 million was received from a venture debt transaction.



The funds will be used to expand production capacity at its Norman, OK plant and to fill approximately eight available positions for scientists, engineers and technical support personnel.

“We need to add to our capacity to meet the demand for our Specialty Multi-wall (SMW) products driven by our strategic partnerships and distribution agreements,” said SWeNT president Dave Arthur. “This additional funding will also be used for R&D to develop additional carbon nanotube materials and inks that meet customer specifications.”



Funding was provided in part through Steifel Nicolaus, supported by Trinity Wealth Partners. The $1 million venture debt funding was completed with Novus Capital Group, LLC.
Strategic investors in SWeNT currently include Panasonic Venture Group and Itochu Plastics, as well as private equity firms Insight Technology Ventures, SOS Ventures of Dublin, Ireland and Berwind Private Equity. 



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