Tech Company Financing Transactions
Noveon Magnetics Funding Round
On 5/10/2023, Noveon Magnetics received $75 million in Series B funding from Aventurine Partners and NGP.
Transaction Overview
Company Name
Announced On
5/10/2023
Transaction Type
Venture Equity
Amount
$75,000,000
Round
Series B
Investors
Aventurine Partners (Lead Investor)
NGP (Lead Investor)
Proceeds Purpose
That gave them the funds to relocate to Texas, and to set up a pilot plant in Austin. The recycling process would not only give them an edge, they believed, but also allow them to make a historically hazardous process more energy efficient and environmentally friendly.
Company Information
Company Status
Private & Independent
Industry
Manufacturing
Mailing Address
1550 Clovis R Barker Rd
San Marcos, TX 78666
USA
San Marcos, TX 78666
USA
Phone
Undisclosed
Website
Email Address
Overview
Noveon Magnetics Inc. is a private US-based company and the developer of the patented Magnet-to-Magnet recycling process, for the cost-effective production of high-performance sintered NdFeB magnets from end-of-life and scrap-magnet feedstocks. UMC's magnets are ideal for motor and other applications, where magnetic performance at elevated temperatures is important, and can supply magnetic property data on request.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Scott Dunn
Chief Financial Officer
Viji Subramanyam
Chief Operating Officer
Hugo Haussner
Chief Technical Officer
Miha Zakotnik
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