Nanocomp Technologies receives $18.5 million to expand production capacity
Nanocomp Technologies Inc., a developer of materials and products composed of its carbon nanotubes (CNTs), has been awarded $18.5 million in additional funding under the Defense Production Act Title III program (DPA Title III) to supply CNT yarn, sheet, tape, and slurry materials for the program needs of the U.S. Department of Defense, as well as for commercial industrial markets.
The mission of the DPA Title III program is to create assured and affordable production of products that have been identified as essential for national defense, but that U.S. industry has not been able to deliver because of market conditions or other fiscal barriers. By means of a Presidential Determination, Nanocomp's CNT materials were identified to satisfy this gap.
Initial funding of $2.2 million was provided by the program in 2011, along with substantial company investments, enabling Nanocomp to construct a 30,000-sq.-ft. pilot plant and relocate its headquarters to Merrimack, N.H.
The funds will be used to build and equip an additional 30,000 sq. ft. of manufacturing space that will function as the country’s first low-rate production facility, according to the company.
The CNT-based products currently are featured within the advanced design programs of several DOD and NASA applications, including lightweight body and vehicle armor, structural components for satellites and aircraft, and lightweight cable and wiring.