SP Nano Receives BIRD Foundation Grant for graphene enhanced carbon fiber sizing
This grant comes after successful industrial coating tests ahead of first commercial sales to the MRG market
Yavne, Israel – July 9, 2015 – SP Nano Ltd, a world leader in innovative nanotechnology for enhanced textiles and composite materials, announced today that it has received US$850,000 in grant funding from the US-Israel Bi-national Industrial Research & Development (BIRD) Foundation to develop a system for graphene enhanced carbon fiber sizing with its USA based partner, Graphene Technologies, Inc. (Novato, CA).
Eyal Shpilberg, CEO of SP Nano commented on the BIRD Foundation project, “This is a clear recognition of the breadth of our SP1 technology as we will begin work on a new substrate, graphene, which has a number of very exciting industrial applications”.
Dr. Eitan Yudilevich, Executive Director of the BIRD Foundation, said: “The BIRD Foundation continues in its tradition of promoting joint projects between U.S. and Israeli companies which are multidisciplinary in nature and contain a high level of innovation and knowledge. The Foundation initiates diverse activities to promote partnerships in new areas which are of great importance to both countries.”
SP Nano are also happy to update that it successfully coated an industrial quantity of polyester yarn with its SP1 solution for rubber reinforcement, which took place inside the international facility of a large textile company. The initial indications are that SP1 can replace Resorcinol Formaldehyde Latex (RFL), the toxic additive commonly used today, and has additional improvements to the yarn both in weight and flexibility. The coated yarn will be tested in the next few weeks by various international end customers, which will be the last milestone before commencing initial commercial sales.
About SP Nano Ltd.:
SP Nano is the developer of SP1 – a revolutionary nano-reinforcement protein agent that will transform the composite materials and rubber industries by enabling the production of lighter, stronger and sustainable parts. SP Nano was established in 2007 is commercializing the use of carbon-based nanoparticles in the rapidly growing €140 billion mechanical rubber goods (MRG) and €84 billion composites markets. These markets includes raw materials such as carbon/glass fiber and aramid, and are commonly used in industries such as aerospace, construction, automotive and marine, wind energy and sports equipment. SP Nano’s proprietary SP1 technology can significantly improve the performance properties of composites; enabling cost-effective manufacture of stronger and lighter parts. From its headquarters in Israel, SP Nano is working in close cooperation with a number of leading multinational companies to develop a range of innovative new commercial products for various end-markets.
About the BIRD Foundation
The BIRD (Binational Industrial Research and Development) Foundation works to encourage and facilitate cooperation between U.S. and Israeli companies in a wide range of technology sectors and offers funding to selected projects. BIRD has approved over 900 projects over its 38 year history. To date, BIRD’s total investment in these projects has been over $300 million and has received approximately $100 million in repayments. BIRD funded projects have generated direct and indirect sales of approximately $10 billion.
The BIRD Foundation provides support of up to 50% of a project’s budget, or up to $1 million, beginning with R&D and ending with the initial stages of sales and marketing. The Foundation supports projects without receiving any rights in the participating companies or in the project itself. The Foundation shares the risk and requires the investment to be repaid only if the project reaches the sales stage.
For more information please contact:
Eyal Shpilberg, CEO, SP Nano Ltd.
T: +972 (8) 958-4362 M: +972 (50) 7835-635
For more information on SP Nano’s innovative SP1 technology please visit: http://www.spnano.com/