C3Nano Launches Financing Round with Investment from Nitto Denko
HAYWARD, Calif., May 20, 2020 (GLOBE NEWSWIRE) -- C3Nano Inc., the performance leader in next-generation, transparent conductive films, announced today it has closed an initial equity investment from lead investor Nitto Denko, as the first step in an anticipated $15 million funding round. Nitto Denko Corp. (OTCMKTS: NDEKY) an Osaka-based diversified materials manufacturer, is a major supplier of films and touch panel display products for the global smartphone, tablet, and display industries. The two companies will collaborate on further development of the supply chain channel for the global flexible display market.
“Our partnership with Nitto Denko is the latest indication that we offer superior technology in the global transparent film and touch display market,” said Clifford Morris, CEO, C3Nano. “C3Nano is the recognized performance leader, and we supply materials for foldable phones and other devices around the world. We are grateful for the opportunity to work with Nitto Denko and combine our technical skills to support innovation and expansion of this important sector as well as other new and novel emerging products and markets.”
One of the emerging markets C3Nano and Nitto Denko supply is the foldable device market, estimated by Display Supply Chain Consultants (DSCC) in its 2020 report, to exceed $70B in product revenues by 2025, with the foldable display segment growing to $7.9B and foldable panel shipments rising to 77 million units. According to DSCC Founder and CEO Ross Young, “C3Nano is well positioned to help the foldable display market solve the scratch resistance issues that have plagued foldable adoption so far. In addition, its strong IP position and technical advantages with its ActiveGrid technology should ensure continued strong growth in the mobile and large-area touch market.”
“C3Nano is a strategic investment for us and will enable us to partner more closely on developing innovative products and expanding the materials supply chain for the evolving device and touch display market,” said Nitto Denko in a statement. “We chose C3Nano due to its performance leadership and excellent technology which will facilitate growing our market with the confidence that we have the most effective team and product in this market segment.”
About Nitto Denko Corp.
Nitto contributes to the daily lives of individuals and the future of industry with our ability to generate innovative and unique solutions. Our proprietary technologies turn ocean water into drinking water, make transportation safer and create sharper LCD displays, among other advancements. Innovation and originality are important parts of our company values, and we never stop inventing. For more information, visit https://www.nitto.com/us/en/
About C3Nano, Inc.
The company’s products are used by global manufacturers of mobile devices, notebook computers and tablets. C3Nano’s innovative technology is also in use in large area interactive TV and automotive sensor applications.
C3Nano’s investors include Nitto Denko, Nissha Printing Co., Ltd., Hitachi Chemical, Nagase America and Lens Technology. Venture capital investors include GSR Ventures and Phoenix Venture Partners. Headquartered in Silicon Valley, C3Nano operates manufacturing, sales and technical support facilities in the U.S. and in Asia. Visit www.c3nano.com for more information.