3M, through its New Ventures Business, has invested in GoNano Technologies Inc., a developer and manufacturer of high surface area nanomaterials for pollution control, catalysis, composites and sensory technologies headquartered in Moscow, Idaho. Terms of the transaction were not disclosed.
GoNano Technologies applies its versatile silica-based Nanospring technology to solve problems for customers seeking high surface area next generation solutions such as catalytic converters, Carbon Capture & Recycle? and continuous flow reactors. GoNano Technologies was founded in 2007 for the purpose of commercializing the Nanospring technology platform, which was developed over a decade long collaboration between Washington State University and University of Idaho.
"GoNano Technologies' unique technology platform offers significant performance improvements for chemical flow reactions that benefit from large surface areas," Stefan Gabriel, president, 3M New Ventures, said. "The combination of this potentially game-changing nanomaterial with our technology platforms further stimulates disruptive innovation and creates new business opportunities in the catalytic conversion space for 3M."
"3M is recognized as a global technology leader in the materials industry," said Tim Kinkeade, Chief Executive Officer of GoNano Technologies Inc. "We are excited to partner with a company that shares our strong commitment to innovation and we look forward to working with 3M to advance transformational products and processes based on the Nanospring platform."
Forward-Looking Statements
This news release contains
forward-looking statements that involve risks, uncertainties and
assumptions. All statements other than statements of historical fact are
statements that could be deemed forward-looking statements, including
any statements of the future plans, strategies and objectives of
management. Other risks, uncertainties and assumptions are described in
3M's SEC reports, including but not limited to the risks described under
"Risk Factors" in Part I, Item 1A of the Annual Report on Form 10-K for
its fiscal year ended December 31, 2010 and in Part II, Item 1A in the
Quarterly Reports on Form 10-Q for the fiscal quarter ended September
30, 2010. 3M assumes no obligation and does not intend to update these
forward-looking statements.
Nanospring is a trademark of GoNano Technologies Inc.
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About GoNano Technologies
GoNano Technologies develops and
manufactures environmentally friendly high surface area nanomaterials
for pollution control, catalysis, composites and sensory technologies.
The company's patent-pending nanomaterials provide a scalable, industry
compatible, low cost platform for highly efficient solutions. More
information may be found at www.gonano-9.com.
GoNano Technologies, Inc can be reached at 208-892-2000. GoNano
Technologies is privately held and is headquartered in Moscow, Idaho.
GoNano Technologies, Inc.
Aziz Makhani, 208-892-2000
Director
of Marketing and Sales
aziz.makhani@gonano-9.com
or
3M
Media Contact:
Donna Fleming Runyon, 651-736-7646
or
3M
Investor Contacts:
Matt Ginter, 651-733-8206
or
Bruce
Jermeland, 651-733-180