News / Press Releases
RNT Raises $8.25 Million in Series-B Financing
Hunt Valley, MD – March 24, 2004
RNT, a provider of novel joining products and solutions for the microelectronics, defense and aerospace industries, today announced that it has received $8.25 million in a funding round led by Sevin Rosen Funds. The oversubscribed round also included Series A investors Toucan Capital, SAS Investors and the Maryland Department of Business and Economic Development as well as new investor Silicon Valley BancVentures, L.P. RNT will use the funding to develop new applications of its core NanoFoilTM product, expand its production infrastructure, and grow its business development activities.
In addition to the recent equity financing, the company has secured $3.6 million in grants from the Federal government, including a $1.9 million Advanced Technology Program award from the National Institute of Standards and Technology. These funds will be dedicated to the expansion of the research and development program in both basic and application-based product development.
About RNT
RNT has developed methods of soldering microelectronic devices and other components at room temperature without the use of a furnace or a torch. The NanoFoilTM product acts as a local heat source provides exactly the amount of energy needed to melt any solder or braze and join the components without heating the components themselves. This offers manufacturers the ability to decrease costs, increase productivity and enable product innovation, with or without the use of lead-based solders. Current microelectronic applications include replacing current greases, pads, and adhesives with a more conductive solder interface. These solutions also provide advances in microelectronic component mounting and other industries requiring the joining of large and small-scale ceramics and metals, such as defense and aerospace.
RNT Contact:
Caroline Worrall: 410-771-9801
cworrall@RNTfoil.com
Reactive NanoTechnologies, Inc.
- Address
- 111 Lake Front Dr.
- Hunt Valley, MD 21030
- Contact Info
- Phone: 410-771-9801
- Fax: 410-771-0586