Press release – Nota de prensa
Madrid, Spain – October 12, 2017 – Inspiralia (www.inspiralia.com), a leading European new product development group has made a strategic investment in the $2.5 million financing round of SP Nano Ltd, a world leader in innovative nanotechnology for enhanced composite materials. Existing investors, Docor International, Consolidated Investment Group and iVentures Asia also participated in this round.
In addition to its investment, Inspiralia will provide additional support via technical and laboratory services as well as take an active role in promoting SP Nano’s unique reinforcement technology in the European market, leveraging its vast local knowledge and relationships. Erez Maor, Managing Director of Toro Ventures, will also join SP Nano’s Board of Directors.
Erez Maor, Managing Director of Toro Ventures said, “We are delighted to lead this investment round in SP Nano, marking our first significant investment in Israel. As the world’s most innovative technology used to disperse and bind nanoparticles in composite materials using a protein, the SP1 technology is proven to improve the properties of fabric-resin composite parts to create stronger and lighter parts, at an affordable price. We see numerous applications for SP Nano technologies and have a strategic plan to assist with scaling R&D and commercial activities in the European region, in line with our core expertise.”
In addition to the financing, SP Nano is pleased to announce two senior appointments including Jon Lippin and Alex Furth as Directors and Senior Advisors. Both have over 30 years’ experience of working closely with manufacturers in the textile industry with Jon Lippin serving in multiple senior management roles with Honeywell International, in charge of a US$1 billion revenue unit, while Alex Furth has founded several companies and held senior roles with Rohm and Haas Company (acquired by Dow Chemical) and Sudamtex Group. Furth is also a member of the Georgia Tech Advisory Board in the Department of Polymers, Textile and Fibers Engineering.
Jon Lippin, Chief Executive Officer of SP Nano said, “SP Nano is excited to count with the strategic investment and business partnership of TV and Inspiralia with its more than a decade of experience bringing new products and technologies to the market. This is an important step in the journey for SP Nano to become the leading material reinforcement solution in the composites materials market.”
Founded in 2005, Inspiralia is a New Product Development (NPD) company offering a 360º service that covers concept generation, innovation strategy, technology and product development and the final market launch. Inspiralia serves hundreds of clients in a range of industries including advanced materials, electronics, automation, healthcare, and agriculture. Inspiralia is headquartered in Madrid with a presence and partners also in London, Milan, Paris, Tel Aviv and the Nordic region.
About Toro Ventures (TV):
Established in 2015, Toro Ventures is the corporate venture arm of the European new product development group, Inspiralia. Headquartered in Madrid, TV provides financial advisory, strategic investment, and business consultancy services to clients from a wide range of industries in Europe. TV is actively looking into new investment and business partnerships with other technology companies synergetic to Inspiralia’s core areas of expertise.
About SP Nano Ltd:
Established in 2007, SP Nano is a nanotechnology company commercializing the use of nanoparticles in key markets such as Composite Materials, Mechanical Rubber Goods, Adhesives, Resins and Conductive Textiles. SP Nano’s proprietary SP1 technology is the only natural solution, i.e. non-toxic and resilience superior to existing chemicals solutions and with the potential to significantly improve adhesion between layers of substrates such as carbon/glass fiber and aramid. These qualities improve the performance of properties of the material, lowering manufacturing costs and creating stronger and lighter parts. From its headquarters in Israel, SP Nano is working in close cooperation with a number of leading multinational companies to develop a range of innovative new commercial products for various end-markets including aerospace, construction, transportation, marine, wind energy and sports equipment.
For more information on SP Nano’s innovative SP1 reinforcement technology please visit: www.spnano.com
For more information please contact:
Mr. Erez Maor, Managing Director, Toro Ventures Ltd.
Tel: +34 687 46 15 17
Mr. Jon Lippin, CEO, SP Nano Ltd.
Tel: +1 917 830 3577