Solvay and Camino Real Capital Partners have joined existing investors Phoenix Venture Partners and Burwell Investments, in a $3 million financing round for Autonomic Materials Inc. (AMI). This funding will accelerate market penetration and commercialization of AMI’s new technology.
USD 3 Million Financing Round for Autonomic Materials
Solvay offers a wide range of industrial and protective coatings for industrial equipment and is broadening its portfolio of solutions for metal and surface treatment aiming to enhance the performance of finished products.
Autonomic Materials Inc. innovative products extend long term coating performance by:
- Imparting extreme corrosion resistance
- Maintaining adhesion
- Extending service life after damage
The products are used in a wide range of applications from high-performance systems for Oil & Gas and industrial maintenance to consumer applications.
Self-healing Additives for Coatings
“Self-healing coatings enabled by AMI’s technology provides customers with both improved performance and a more sustainable solution,” said Matt Jones, Managing Director at Solvay Ventures North America.
“AMI has developed the first commercially viable self-healing functionality for high-performance coating chemistries, a $10 billion worldwide market. Developing new advanced materials with increased performance such as ‘smart’ coatings is one of the main R&I axis of the Group. Solvay is looking forward to working with AMI to help accelerate AMI’s products commercialization.”
“AMI is pleased to welcome Solvay to the AMI investor team. Solvay is a true value-add investor and a great strategic fit for AMI as we accelerate marketing and manufacturing of our products for high-performance coatings and continue our commercialization ramp up in the adhesives and sealants market,” said Dr. Gordon Fischer, CEO and President at AMI.
Source: Autonomic Materials