RNT Takes Strategic Steps in Preparation for Large-Scale Commercial Expansion of NanoFoil®
August 08, 2006 09:30 AM US Eastern Timezone
Award-winning company strengthens management staff and secures additional financing to support expansion activities.HUNT VALLEY, Md.--(BUSINESS WIRE)--Aug. 8, 2006--RNT, which develops and manufactures its patented NanoFoil(R) technology to precisely control the instantaneous release of heat energy for reaction initiation and joining applications, is taking steps to dramatically strengthen the company's position as commercial expansion shifts into high gear. In addition to constructing manufacturing facilities and continued development of distribution channels, RNT has hired key new executives and secured a cumulative $1.5 million in additional financing to support technology development and commercialization activities. It has also been named as a 2005 Nano 50(TM) award winner by Nanotech Briefs magazine.
Commercial expansion activities include:
-- Financing: RNT secured $1 million from the National Science Foundation (NSF), a federal agency with a goal of promoting scientific progress. This funding, in the form of two SBIR grants, targets the use of NanoFoil as a thermal interface solution and for the assembly and mounting of electronic components. The company has also received $500,000 from the US Army's Small Business Innovation Research (SBIR) Phase II Plus program, in response to the military's essential need to join dissimilar materials for use in armor on lightweight ground vehicles.
-- Management Staff: Key new executives have strengthened the company's management team. Chief Executive Officer Joseph A. Grzyb has solidified his team to include Vice President Business Development and Marketing John J. Hannafin and Vice President Sales Bill Gallagher. Combined these two new executives offer RNT 40 years experience in building and managing growth businesses.
"We've been in the fortunate position where customers seeking to advance beyond the capabilities of existing technologies realize the tremendous leap forward presented by RNT's technology," notes Joseph A. Grzyb, RNT Chief Executive Officer. "The key puzzle pieces are falling in place, allowing NanoFoil to revolutionize reaction initiation and joining applications for a number of key industries."
RNT's growing relevance is underscored by its selection as a 2005 Nano 50(TM) award winner by Nanotech Briefs magazine. The Awards recognize the top 50 technologies, products and innovators that have significantly impacted - or are expected to impact - the state of the art in nanotechnology. For a complete list of award winners, please visit www.nanotechbriefs.com/nano50_winners.html.
Headquartered in Hunt Valley, Maryland, RNT was founded in 2001 by engineering veterans Timothy P. Weihs, Ph.D., who now serves as Chief Technical Officer, and Omar M. Knio, Ph.D., who is RNT's Senior Vice President. The company develops and manufactures NanoFoil(R) to precisely control the instantaneous release of heat energy for reaction initiation and joining applications that current technology can not effectively or economically address. RNT has also developed its patented NanoBond(R) joining process to ensure the benefits of NanoFoil are maximized.
Commercial distribution of NanoFoil for energetics and joining applications is taking place from RNT's onsite manufacturing machinery. The company has signed licensing agreements with a number of Fortune 500 Companies. Other awards include the 2005 "R&D 100" from R&D Magazine and recognition in The National Nanotechnology Initiative Strategic Plan in December 2004. For more information please visit www.rntfoil.com.