Solvay co-invests in a $3 million round in Autonomic Materials Inc. offering advanced coating technologies
Brussels, November 27, 2017--- Solvay and Camino Real Capital Partners, joined existing investors Phoenix Venture Partners and Burwell Investments, in a $3 million financing round for Autonomic Materials Inc. (AMI), the world leader in self-healing technology for high-performance coatings, adhesives and sealants. This funding will accelerate market penetration and commercialization of AMI’s new technology.
Solvay offers a wide range of industrial and protective coatings for industrial equipment and is broadening its portfolio of solutions for metal and surface treatment aiming to enhance the performance of finished products.
Autonomic Materials Inc. innovative products extend long term coating performance by imparting extreme corrosion resistance, maintained adhesion and extended service life after damage in a wide range of applications from high-performance systems for Oil & Gas and industrial maintenance to consumer applications.
“Self-healing coatings enabled by AMI’s technology provides customers with both improved performance and a more sustainable solution,” said Matt Jones, Managing Director at Solvay Ventures North America. "AMI has developed the first commercially viable self-healing functionality for high-performance coating chemistries, a $10 billion worldwide market. Developing new advanced materials with increased performance such as ‘smart’ coatings is one of the main R&I axis of the Group. Solvay is looking forward to working with AMI to help accelerate AMI’s products commercialization.”
“AMI is pleased to welcome Solvay to the AMI investor team. Solvay is a true value-add investor and a great strategic fit for AMI as we accelerate marketing and manufacturing of our products for high-performance coatings and continue our commercialization ramp up in the adhesives and sealants market,” said Dr. Gordon Fischer, CEO and President at AMI.
Located in Champaign, Illinois, AMI is the worldwide commercial leader in polymer-based, self-healing microencapsulated systems for high-performance coatings, adhesives and sealants. Over the past two years, AMI has introduced several AMPARMORTM products for use in high-performance powder coatings and heavy duty industrial coatings. In addition to its own expanding IP portfolio, company holds the exclusive rights to the patented technology developed by the Autonomous Materials Systems (AMS) group at the Beckman Institute, at the University of Illinois at Urbana-Champaign.
Solvay is a multi-specialty chemical company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers in diverse global end markets. Its products and solutions are used in planes, cars, smart and medical devices, batteries, in mineral and oil extraction, among many other applications promoting sustainability. Its lightweighting materials enhance cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 27,000 employees in 58 countries. Net sales were € 10.9 billion in 2016, with 90% from activities where Solvay ranks among the world’s top 3 leaders. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR) and in the United States its shares (SOLVY) are traded through a level-1 ADR program.
SOLVAY VENTURES is the Venture Capital fund of Solvay and invests in breakthrough technologies in advanced materials and formulations. Operating since 2005, Solvay ventures manage a $100m global evergreen fund with a focus on better use of resources, energy transition, health & wellbeing, and digital age; all investments feature a strong sustainability component. In addition to providing capital to start-up companies, Solvay Ventures leverages Solvay capabilities to generate business synergies between start-ups and Solvay's businesses and innovation platforms.