RIYADH: NanoMech announced today that it has secured $10 million in capital for leading its Series C Financing round from Saudi Aramco Energy Ventures (SAEV), the corporate venturing subsidiary of Saudi Arabia’s national oil company. This capital infusion and relationship will significantly accelerate NanoMech’s manufacturing, sales and product development.
NanoMech uses nanotechnology to develop advanced products for industrial and mechanical applications – such as lubricants, coatings and specialty chemicals. These products have enabled a step change in performance, efficiency and reliability in multiple industries such as energy, transportation, aerospace, manufacturing, automotive, agricultural equipment and military.
NanoMech has validated and commercialized its innovations to iconic world-leading businesses and has completed scale up of its smart factory and labs. Several Fortune 100 and emerging companies have incorporated NanoMech’s nano-engineered solutions, to create disruptive and higher-performance products. Today’s announcement represents NanoMech’s most significant milestone in the continued validation and authentication of its unique technology.
