Nanotech Industrial Solutions has completed a $12m growth capital round led and syndicated by EcoMachines Ventures, a long-term investor in NIS.
The money will be used to accelerate sales and continue developing new applications of its path-breaking nano-additives technology.
NIS is the only manufacturer of nano-sized particles of Inorganic Fullerene-like Tungsten Disulfide, producing high performance additives for greases, industrial lubricants (including gear oils, transmission oils, chain oils etc.), metal working fluids and other lubricating fluids.
The company’s unique, patented particle technology reduces friction and wear whilst increasing the extreme pressure capacity of lubricants. This, said the company, leads to significantly reduced downtimes and cost of ownership whilst increasing resource efficiency in the automotive industry (engine and gear oils) and industrial applications (engine oils, chain oils, gear oils, greases, etc).
Nanotech Industrial Solutions President and CEO Eugene Kverel said: “Today’s announcement marks a key milestone in NIS’ journey to take cutting edge nanotechnology into the specialty chemicals and lubricant additives industry. Over the last few years we have proven to industry the unique properties of our technology. There is growing pressure on the market to switch over to the new standard of performance developed by NIS.”
“Lubricating fluids are one of the most important components in any industrial and automotive applications. To meet today’s environmental and efficiency demands industries around the globe are looking for new generation high performance lubricants. NIS’s IFWS2 based additives provide a unique opportunity to bring lubricants to new performance level and significantly improve efficiency whilst reducing emissions, downtimes and cost of ownership.”