SINGAPORE Singaporean nanomaterial production specialist NanoMaterials Technology Pte. Ltd. officially opened a $1.5 million facility here.
The company said in a statement that the facility, which includes pharmaceutical and chemical laboratories, was supported by some $7.7 million that NanoMaterials recently secured from outside investors, including Juniper Capital Ventures, Japan Asia Investment Co. and Korea Technology Corp.
The nanotechnology firm, which currently has 20 employees, also plans to use the funds to boost its research and development team to 30 people.
A spokesperson told EE Times that the facility would focus on broadening the product range supported by the company's High Gravity Controlled Precipitation Platform, which it claims to allow for more control and scalability than traditional methods of nanoparticle production.
NanoMaterials' nano-precipitated calcium carbonate has already been licensed for industrial production and the company has also developed electronic materials for use in multi-layer ceramic capacitors, which are being tested by firms in the United States and Japan.
The company is also developing solutions for the pharmaceutical industry, such as nano-drug compounds that can be delivered to patients through inhalation.
While current revenues remain relatively small at about $620,000 annually, the spokesperson said NanoMaterials is expecting rapid growth over the next two years. Yearly earnings are expected to
reach $12 million by 2008, due mainly to the potential of its technologies in the pharmaceutical sector.
The company also has plans to go public in 2008, though it has yet to decide where it will list.