TenasiTech secures investment to drive development
TenasiTech is pleased to announce that it has secured almost a million dollars in investment to drive the commercialisation of its range of plastics nanoadditive products. A consortia of Angels from the Australian groups, Brisbane Angels and Melbourne Angels, have committed AU$485,000 in equity capital, and original investor, Uniseed, has committed with another AU$450,000.
TenasiTech CEO, Richard Marshall, said “We are thrilled with the continued support from Uniseed, and the show of commitment from our new investors drawn from the Brisbane and Melbourne angel investor community.”
“One of our products solves the issue of surface scratching for acrylic glass (sometimes known as Plexiglas®). The poor scratch resistance of acrylic glass is a key barrier to the more widespread replacement of traditional glass. Our nanoadditive products allow our customers to design plastic sheets, and other parts, which are more durable as they are less prone to surface defects when handled. The uses include for car interiors, glossy panels for kitchen doors and stair handrails. And the acrylic glass market is very large – in the order of $6B globally – so our investors are attracted to the commercial potential for our technology.”
TenasiTech Chairman, Dr David Evans, said “TenasiTech has products in multiple polymer families including acrylic glass and polyurethane elastomers. So our products work in both the ‘soft-and-stretchy’ types, as well as the ’hard-and-clear’ thermoplastics such as acrylic glass. We work with global market leaders in each application area – our strategy is to work with companies who are top five in their respective markets, regardless of their geographic location”.
Monday, 21 April 2014
TenasiTech established US office
TenasiTech has established a sales presence in the United States, making a significant step in connecting with the important US market. CEO, Richard Marshall, is heading up the US move, establishing the US headquarters in Massachusetts.
Mr Marshall commented, “The US remains one of the major markets in continual need to plastics innovations such as ours. It has the depth and breadth of manufacturing we seek, as well as the world’s largest domestic markets for many of our product lines. We are here to engage with customers who seek enhanced polymer performance to maintain their competitive edge. In addition the US has the best venture capital network in the world, and we are raising capital this year.”
Wednesday, 13 March 2013
TenasiTech appoints Executive Chairman, David Evans
TenasiTech has announced that David Evans has joined the company Board as Executive Chairman. Dr Evans has over 30 years experience in the plastic and chemical industry with ICI and Huntsman and has lived and worked in many countries across the globe. You can see more of his background on LinkedIn.
Wednesday, 1 February 2013
TenasiTech gets industry, investor and government trifecta
The materials startup company has secured follow on investment, significant grant funding and is to present at a major US innovation showcase.
TenasiTech is pleased to announce that it has secured an additional AU$475,000 in equity capital from Uniseed since its founding investment in August 2008. The company also announced that it is presenting at the TechConnect Innovation Showcase in California this week and has been awarded AU$925,000 funding from the Queensland Government.
The Queensland Government funding was announced today by the State Government’s Minister for Science, Information Techhnology, Innovation and the Arts, Ros Bates, at the 2012 International BIO Conference in Boston, USA. The AU$925,000 is to partly fund three product co-development programs targeting innovate high volume applications. TenasiTech’s industry partners in the Queensland Government program are three non-competing multi-national companies. No further details were disclosed.
TenasiTech CEO, Richard Marshall, said “The Queensland Government grant supports our goal to be the first choice for high performance composite polymers. Our technology is now providing new materials options for customers in engineering, sporting and construction applications. We are working with elastomers, foams and multiple polymer families and can customize our additive technology to suit our partners’ specific requirements. “Unlike other nanotechnology companies, TenasiTech is able to produce material at industrial scale that is competitively priced and fits within the existing polymer supply chain. TenasiTech’s additive technology – Adaptive Polyol™ – is a new way of incorporating its proprietary nanotechnology additive into a pre-polymer ingredient.
“TenasiTech is now working in multiple polymer families including acrylics, polyurethane elastomers and foams. Importantly, the company is building a pipeline of proprietary product lines to suit the specific performance and processing requirements of high value applications,” Mr Marshall said.
Wednesday, 20 June 2012