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[November 2003]
Venture Capitalists Back Ceramic-Metal Composite Technology for Ballistic Armour
Four venture capital firms, led by Reservoir Venture Partners, have invested more than US$1 million to support and accelerate commercialisation opportunities at Excera Materials Group (Columbus. OH, USA). Reservoir Venture Partners, also based in Columbus, is investing US$500,000 in Excera's promising technology products and solutions. Another US$550,000 is being invested by Cleveland-based Early Stage Partners, North Coast Technology Investors (Ann Arbor, MI, USA) and First Fifty Validation Fund associated with the Science & Technology Campus Corporation at Ohio State University.
Excera's solution for the rapidly growing ballistic armour market is ONNEX (tm), a patented composite material that blends ceramic and metals to give users a product that is simultaneously high strength, tough, lightweight and stiff. ONNEX, which is based on research conducted at Ohio State University, can be tailored to meet specific customer demands for strength, hardness, density, complex dimensions and thermal and wear resistance, as well as for electrical and thermal conductivity - at a cost that is comparable to more traditional materials.
"For more than 20 years, the advanced ceramics industry has been trying to meet the critical need for composite materials that are light, strong, corrosion-resistant and capable of performing in high-temperature environments," said Michael Breslin, Excera's President and CEO and inventor of the company's core technology. "Today, we are developing a new generation of low-cost products for a broad range of industrial applications, including body armour that is highly effective, lightweight and comfortable to wear. ONNEX's superior performance and our ability to deliver complex shapes could make it a highly-valued material in this worldwide market."
www.exceramaterials.com
ENDS