Tiny product is seed for growth

DATELINE: NORMAN

NORMAN - SouthWest NanoTechnologies' bid to become the top producer of single-wall carbon nanotubes crossed another milestone Wednesday with the announcement that it has closed on $5 million in financing.

The company broke ground in July on a $3.9 million manufacturing plant here that will allow it to scale up the production of carbon nanotubes - it already has two strategic partners for which it will produce the high-tech product. The 15,000-square-foot plant is expected to be completed by spring.

"They just keep meeting one milestone after another," said Don Wood, executive director of the Norman Economic Development Coalition. "We are a firm believer in the potential of the technology and the management team that is in place (at the company)."

The new manufacturing plant is being constructed by the Norman Economic Development Coalition for SouthWest NanoTechnologies on eight acres in the Norman Business Park, just south of State Highway 9 between 24th Avenue SE and 36th Avenue SE in Norman.

"We think they are in a position to do some great things for the Norman economy," Wood said.

The $5 million "A round" of investment will enable the company to dramatically expand its production of carbon nanotubes and launch new products tailored for specific applications, said David J. Arthur, the company's chief executive officer.

"Our investors, who are all across the country, continue to demonstrate their confidence in the company's performance and potential," Arthur said.

SouthWest NanoTechnologies was founded in 2001 to commercialize nanotube technology developed by Daniel Resasco, professor of chemical engineering at the University of Oklahoma. The company produces carbon nanotubes using a patented method, which results in control of diameter, purity and other characteristics.

When the new plant comes on line, the company's nanotube production is expected to increase from grams per day to kilograms per day, which is an exponential jump.

"Larger-scale production will enable us to supply our customers with high quality, single-wall carbon nanotubes at a substantial price reduction," Arthur said. "I expect us to be the market driver for single-wall carbon nanotubes."

For its first two "strategic partners," SouthWest NanoTechnologies will produce nanotubes for use in flat panel displays and touch screens such as ATMs used by the banking industry, as well as nanotubes to be blended with carbon fibers to strengthen light-weight products.

Earlier this month, SouthWest NanoTechnologies was one of 55 U.S. companies honored with the 2007 Tibbetts Award from the Small Business Technology Council. The company was selected from 17,000 companies receiving contracts and grants under the Small Business Innovation Research Program.

REVOLUTIONARY TECHNOLOGY

What does this company make? Single-wall carbon nanotubes exhibit extraordinary properties due to their unusual structure. They consist of a hollow cylinder of carbon, typically about 1 nanometer in diameter, with very high aspect ratio. This structure can have remarkable optical and electronic properties, tremendous strength and flexibility, and high thermal and chemical stability. As a result, single-wall nanotubes are expected to revolutionize several industries, including displays, electronics, health care and composites. A nanometer is one billionth of a meter.

Source: http://swentnano.com