CHASM Advanced Materials Closes $15 Million in Series C Funding
Round led by WAVE Equity Partners with strategic investment by Birla Carbon and SWM International
CHASM Advanced Materials, Inc., the inventor of nanotube hybrids – a new category of advanced materials unlocking formerly impossible product innovations, today announced the completion of a $15 million Series C financing round led by WAVE Equity Partners, a Boston based private equity firm investing in clean energy, food, water, and materials companies with proven transformational technologies; joined by Birla Carbon, a leading global manufacturer and supplier of carbon solutions, as well as SWM International (NYSE: SWM), a leading global performance materials company.
The funds will be used to accelerate commercial penetration of CHASM’s AgeNTTM products for transparent printed electronics, NTeCTM products for energy storage and a broad range of composites applications, and to launch CHASM-H2OTM – a new category of membranes targeted at disrupting water treatment to address the world’s water scarcity problem.
“WAVE companies create transformative solutions to make the world cleaner and more sustainable for generations,” said Mark Robinson, Managing Director, WAVE Equity Partners. “CHASM’s breakthrough nanotube hybrid technology offers significant ESG impact through replacement of rare earth-mined materials and better price-performance for printed electronics. In addition, CHASM’s technology platform has proven to deliver impact through longer lived batteries, tires and conductive plastics that require less materials to manufacture. CHASM’s latest nanotube hybrid inventions have superior qualities over conventional membranes offering higher quality water for people, industry and agriculture. We could not be more thrilled to support the company.”
“Birla Carbon, in partnership with CHASM, has rapidly progressed the nanotube hybrid technology platform of NTeC with carbon black; from initial discoveries in energy storage and performance additives, to successful establishment as a superior advanced carbon for higher performance lithium-ion batteries, conductive paints and coatings, and longer-lasting tires. The next phase for this strategic partnership is to scale-up manufacturing and further commercialization of NTeC-B, particularly in the application of conductive additives for batteries. This development is aligned to Birla Carbon’s roadmap of achieving net zero carbon emissions through sustainable and circular technologies,” stated Dr. Ann Schoeb, Chief Research and Development Officer, Birla Carbon.
“As a new investor in CHASM, SWM International expects to build a strong relationship focused on developing and commercializing unique high-value solutions in growing segments,” said Tracey Peacock, Executive Vice President, Advanced Materials & Structures for SWM. “Combining CHASM’s nanotube hybrid technology platform for printed electronics with our highly engineered resin-based films will open broad possibilities for smart glass applications across segments including transportation, construction, and the military. Building on CHASM’s technology and our own deep expertise in performance materials, SWM is excited to uncover additional advanced applications to solve our customers’ biggest challenges.”
“CHASM’s nanotube hybrid technology platform continues to deliver breakthrough functionality, efficiency and sustainability across a wide range of applications and industries. Our strategic partnerships with Birla Carbon and SWM are expected to help us quickly bring these innovations to scale and significantly accelerate penetration of very large markets for advanced materials solutions. Beyond their steadfast monetary backing in each investment round, our lead investor, WAVE Equity Partners has delivered significant value through go-to-market guidance and key advisory resources. The support we are receiving from our financial and strategic investors in this round is a clear signal of our commercial readiness,” added David Arthur, Chief Executive Officer and Co-founder, CHASM.