Toro Ventures makes a strategic investment in leading Israeli nanotechnology company, SP Nano. SP Nano also announces appointment of new Directors.
Madrid, Spain – October 9, 2017 – Toro Ventures is delighted to announce a strategic investment in the $2.5 million financing round of SP Nano Ltd, a world leader in innovative nanotechnology for enhanced composite materials. Existing investors, Docor International, Consolidated Investment Group and iVentures Asia also participated in this round.
In addition to its investment, Toro will provide additional support via technical and laboratory services as well as taking an active role in promoting SP Nano’s unique reinforcement technology in the European market, leveraging its vast local knowledge and relationships. Mr Erez Maor, Managing Director of Toro Ventures, will also join SP Nano’s Board of Directors.
“We are delighted to lead this investment round in SP Nano, marking our first significant investment in Israel. As the world’s most innovative technology used to disperse and bind nanoparticles in composite materials using a protein. TheSP1 technology is proven to improve the properties of fabric-resin composite parts to create stronger and lighter parts, at an affordable price. We see numerous applications for SP Nano technologies and have a strategic plan to assist with scaling R&D and commercial activities in the European region, in line with our core expertise.” said Mr. Maor.
In addition to the financing, SP Nano is pleased to announce two senior appointments including Mr. Jon Lippin Director and Mr. Alex Furth as Director and both will provide Senior Advisory roles. Each has over 30 years’ experience working closely with industrial manufacturers in the production and high tech industries, textile industry with Mr. Lippin serving in multiple senior management roles with Honeywell International, in charge of a US$1 billion revenue unit, while Mr. Furth founded several companies and held senior roles with Rohm and Haas Company (acquired by Dow Chemical) and Sudamtex Group. Mr. Furth is also a member of the Georgia Tech Advisory Board in the Department of Polymers, Textile, and Fibers Engineering.
“SP Nano is excited to have the strategic investment and business partnership with TV with its more than a decade of experience bringing new products and technologies to market. This is an important step in the journey for SP Nano to become the leading material reinforcement solution in the composites materials market” said Mr. Lippin.
About Toro Ventures (TV):
Established in 2015, Toro Ventures provides financial advisory, strategic investment and business consultancy services to clients from a wide range of industries in Europe. TV is actively looking into new investment and business partnerships with other technology companies.
About SP Nano Ltd:
Established in 2007, SP Nano is a nanotechnology company commercializing the use of nanoparticles in key markets such as Composite Materials, Mechanical Rubber Goods, Adhesives, Resins and Conductive Textiles. SP Nano’s proprietary SP1 technology is the only natural solution, i.e. non-toxic and resilience superior to existing chemicals solutions and with the potential to significantly improve adhesion between layers of substrates such as carbon/glass fiber and aramid. These qualities improve performance of properties of material, lowering manufacturing costs and creating 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 including aerospace, construction, transportation, marine, wind energy and sports equipment..
For more information on SP Nano’s innovative SP1 reinforcement technology please visit: http://www.spnano.com/
For more information please contact:
Mr. Erez Maor, Managing Director, Toro Ventures Ltd.
Tel: +34 687 46 15 17
Mr. Jon Lippin, Director, SP Nano Ltd.
Tel: +1 917 830 3577