Boston Materials – a manufacturer of advanced materials key to the next generation of semiconductors and aircraft platforms – announced $13.5 million in new funding. The funding was led by AccelR8 and Diamond Edge Ventures, the US-based corporate venturing arm of Mitsubishi Chemical Group (a leading global carbon fiber manufacturer). With this funding round, Boston Materials is accelerating its expansion into the semiconductor market, building from its existing footprint in the aerospace market.
Launched in 2016, Boston Materials produces a new class of conductive and durable materials like metal, yet light as plastic. The underlying patented technology, Z-axis Fiber utilizes vertically aligned carbon fibers to create materials with enhanced energy transfer properties. Highly differentiated advanced materials, commercialized under the ZRT tradename, solve critical challenges relating to thermal management and vehicle weight reduction across trillion-dollar industries– including Semiconductors, Aerospace, and Electrified Vehicles. Backed by scaled manufacturing technologies, facilities primed for high-volume production, and validation in performance-critical applications across high-growth sectors, industry leaders turn to Boston Materials to go beyond today’s known limitations.
The $13.5 million funding round also saw participation from returning and new investors, including Valo Ventures, Gatemore Venture Partners, Collab Fund, and Woori Venture Partners.
KEY QUOTES:
“The world is experiencing an unprecedented increase in energy consumption from computing and transportation. BOSTON MATERIALS is spearheading a new class of materials designed to maximize both the performance and efficiency of energy-intensive systems.”
– Dwight Poler, CEO of AccelR8
“Carbon fiber is a strategic product pillar for Mitsubishi Chemical Group. The BOSTON MATERIALS Z-axis Fiber technology is a fundamentally new approach to expand the importance and applications of carbon fiber into industries that are building the future.”
– Curtis Schickner, President of Diamond Edge Ventures
“There is an urgent and quickly ramping need for advanced energy transfer materials. This new class of materials maximize performance and efficiency across data centers, airplanes, electrified vehicles, and beyond. BOSTON MATERIALS is aggressively expanding its existing manufacturing capabilities and accelerating global product deployment to meet this demand.”
– Anvesh Gurijala, CEO of Boston Materials
