Applied NanoMaterials raises $1 million

from the dollars-for-spheres-'n-tubes dept.
David Kanaan forwards this news: "Applied NanoMaterials, Inc., a provider of nanotechnology-based products, today announced that it has raised $1 million in first round financing. The investor in this round is the Newton Technology VC Fund which also has an option for an additional $2 million investment in the company. Applied NanoMaterials commercializes a revolutionary scientific discovery: nanospheres and nanotubes of inorganic compounds that were discovered at the Weizmann Institute of Science, Israel." "The unique nanoparticles will be the basis for a broad range of commercial and industrial products including applications in the microelectronics, semiconductor, aerospace, lubricant and metal working markets. Dr. Menachem Genut, President and CEO of Applied NanoMaterials, was a co-discoverer of these novel inorganic nanostructures as a member of the Instituteís Nanomaterials Synthesis Group headed by Professor Reshef Tenne. The Chairman and the CFO of the company is Mr. Aharon Feuerstein."