Cnano Technology Gets $15 Million to Expand Nanotube Production

(Bloomberg) — Cnano Technology Ltd., a U.S. maker of
carbon nanotubes used in energy-storage products, completed a
$15 million financing plan that it will use to expand production
in China.

Grand River Capital’s SinoGreen Fund led the financing,
which included Hotung Investment Holdings Ltd. and existing
investors Pangaea Ventures, Presidio Partners, WI Harper Group,
IDG Capital Partners and Megatop Capital, Cnano Technology said
in a statement on its website Monday. Individual amounts weren’t
disclosed.

Closely held Cnano plans to use the funding proceeds at its
manufacturing facility in Zhenjiang, Jiangsu, according to the
statement. The nanotubes produced there also are used in
batteries, electronics and electric vehicles.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Robin Saponar, Jim Efstathiou Jr.

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