NanoGram expands into cleantech with $32M round

March 7, 2008 — NanoGram Corp. recently branched out into the cleantech space when it closed on a third equity round of $32M to expand its solar technology and nanomaterials businesses.

New investors Global Cleantech Capital, Masdar Clean Tech Fund, Mitsui Ventures, Nagase & Co., Nanostart AG, TEL Venture Capital, and Yasuda Enterprise Development join follow-on investors ATA Ventures, Bay Partners, Harris & Harris, Institutional Venture Partners, Nth Power, Rockport Capital Partners, SBV Venture Partners, and Technology Partners.

The new funding will be used to accelerate development of NanoGram’s silicon solar technology and its nanomaterials for flat panel displays, solid state lighting, lithium-ion batteries and printed electronics.

“NanoGram is an agile company creating new market opportunities by understanding the needs of our customers and partners,” said NanoGram President and CEO Dr. Kieran Drain. “Our expansion into the solar market and strong customer interest in our core nanomaterials solutions proves our technology has the potential to generate game-changing products. These new funds allow us to increase momentum.”

Ira Ehrenpreis, general partner at Technology Partners, said that NanoGram is “now pursuing additional exciting cleantech opportunities in new large markets with their energy and advanced materials technologies.”

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