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Boston Materials gets new funding from NSF

28 May '20

2 min read

Pic: Boston Materials

Boston Materials, manufacturer of advanced carbon fibre products, has got new funding from the National Science Foundation (NSF) to speed up the development and market introduction of new lightweight materials for transportation and electronic industries. This new funding increases NSF's non-dilutive investment in Boston Materials to nearly $1 million.

America's Seed Fund, powered by NSF, awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact.

"These new materials have the potential to eliminate the range anxiety associated with electric vehicles, reduce the cost of air travel, and increase the connectivity of our electronic devices," says Anvesh Gurijala, Boston Materials founder and CEO. "Continued support from NSF through America's Seed Fund and the SBIR programme allows us to accelerate our development even during the difficult economic environment created by the COVID-19 pandemic. We're excited to domestically manufacture and launch these new lightweight materials."

Boston Materials will use the funding to combine the company's high performance, economic, and sustainable Supercomp carbon fibre products with thermoplastics for injection molding, additive manufacturing, and other high-speed processes that are common in the transportation and electronics industries.

The development enabled by NSF is a key part of Boston Materials' overall effort to transform the transportation, electronics, energy, and infrastructure industries with innovative composite materials.

Alongside the non-dilutive funding from NSF, Boston Materials has previously received financing from SABIC Ventures, Clean Energy Ventures, and the Clean Energy Venture Group.

Fibre2Fashion News Desk (SV)