Download n12 technologies to scale up carbon nanotube materials

NEWS
FOR IMMEDIATE RELEASE:
February X, 2015
CONTACTS:
Emily Dahl, MassDevelopment
[email protected]
617-330-2086 & 978-394-3506 (cell)
Steve Ham, N12 Technologies, Inc.
[email protected]
(202) 460-9824
N12 TECHNOLOGIES TO SCALE UP CARBON
NANOTUBE MATERIALS MANUFACTURING WITH $2.5
MILLION MASSDEVELOPMENT LOAN
MassDevelopment has issued a $2.5 million term loan from the Emerging Technology
Fund to N12 Technologies, Inc. of Cambridge to help the company purchase tooling and
equipment that will enable it to develop commercial-scale manufacturing of its advanced
carbon nanotube materials. The project is expected to create 25 jobs.
“N12 Technologies’ vertically aligned carbon nanotubes are a technological innovation
developed here in Massachusetts, and MassDevelopment is pleased to help N12 continue
to grow in the Commonwealth,” said Marty Jones, President and CEO of
MassDevelopment. “N12’s future commercial-scale products have great potential for
aerospace, transportation, renewable energy, and other industries.”
“We are honored to be selected from the Commonwealth’s most promising high-tech
startups for this program”, said Brad Berkson, President and CEO of N12. “Our products
will change the way everything from hockey sticks to cars to satelites are made, making
them lighter, stronger, faster. We make the best better and are proud to have
MassDevelopment’s support toward this end,”
N12 Technologies, Inc. (N12) is a privately held developer and manufacturer of ultra
light-weight material known as carbon nanotubes. The company produces vertically
aligned carbon nanotubes (VACNTs) that have revolutionary properties. Based on
technology from the Massachusetts Institute of Technology, N12’s NanoStitch™
strengthens the bond between layers of composite fibers commonly used in aerospace,
wind turbine blades, automobiles, and sporting goods such as hockey sticks. Hydrocarbon
and other gases are reacted at specific temperatures in the presence of a catalyst to form
and grow carbon nanotubes. The revolutionary properties of NanoStitch™ solve critical
failures in today’s composites, such as stress concentrations and impact damage.
In 2013, the company progressed from an MIT lab-based process to commercial
capability. N12 has subsequently improved the process to achieve commercial grade
material and is now building capacity to produce this material at industrial scale in the
Greater Boston area. The MassDevelopment Emerging Technologies Fund loan will help
N12 purchase additional tooling and equipment for additional carbon nanotube pilot and
commercial-scale manufacturing lines as well as lab equipment for testing purposes.
MassDevelopment, the state’s finance and development agency, works with businesses,
nonprofits, financial institutions, and communities to stimulate economic growth across
the Commonwealth. During FY2014, MassDevelopment financed or managed 314
projects generating investment of more than $2.9 billion in the Massachusetts economy.
These projects are projected to create more than 6,300 jobs and build or rehabilitate more
than 1,600 residential units.
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