Friday, February 22, 2008

Sub-One Technology develops high-performance protective coatings for industrial applications has closed $24 million in new financing

What Company Is Offering:
Sub-One Technology develops high-performance protective coatings for industrial applications. Its InnerArmor coating process applies an ultrahard, pinhole-free, chemically inert protective coating to critical equipment to reduce operational costs associated with corrosion, erosion and friction reduction. With offices and staff in Aberdeen, Scotland, Houston, Texas, and Pleasanton, California, the company is providing commercial coating systems to coating applicators and manufacturers worldwide.

How Much They Got From VCs:
Sub-One Technology announced that it has closed $24 million in new financing. The Series-C funding was led by Nomura International and included GE Energy Financial Services, Chevron Technology Ventures and Advanced Technology Ventures. Sub-One's InnerArmor(?) technology is the only process capable of cost effectively applying a hard-as-diamonds coating to the interiors of critical liquids and gas handling equipment and piping. InnerArmor applications cover a wide spectrum of industries and applications including oil and gas, automotive, chemical, semiconductor, pulp and paper, public utilities and aerospace.

About VCs:
1.New Energy & Clean Technology Ventures, a division of the leading Asia-based investment bank Nomura, aims at leveraging the bank's strengths in opening markets across Asia. It intends to act as a bridge between later-stage U.S. and EU companies and the surging demand for new forms of clean energy and water technologies in India, China and across Asia. Based in London, the division is in a strong position to provide larger sums of capital to companies with potentially game-changing technologies, and to help its portfolio companies forge links with Japanese multinationals. Nomura is a global financial services group dedicated to providing a broad range of financial services for individual, institutional, corporate and government clients. The group offers a diverse line of competitive products and value-added financial and advisory solutions through its global headquarters in Tokyo and an international network in 30 countries. ( )

GE Energy Financial Services' 350 experts invest globally with a long-term view, backed by the best of GE's technical know-how and financial strength, across the capital spectrum and the energy and water industries, to help their customers and GE grow. With $17 billion in assets, GE Energy Financial Services, based in Stamford, Connecticut, invests more than $5 billion annually in two of the world's most capital-intensive industries, energy and water.

Chevron Technology Ventures, the Venture Capital Arm of Chevron, identifies and invests in new technologies and business opportunities that can create value, clear competitive advantage and superior financial returns for Chevron.Chevron (NYSE:CVX) is one of the world's leading energy companies. With approximately 56,000 employees, Chevron subsidiaries conduct business in more than 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products. Chevron is based in San Ramon, California. ( )

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