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Multinational Team of Investors Invest $3.6 Million in Series B Funding Round for Tantaline
August 6th, 2011 No comments
Based in Waltham, Massachusetts, Tantaline is a company which has grown to become a wold leader in the manufacturing of non-corrosive materials. The company announced on August 5, 2011, that it has received $3.6 million in a series B funding round by an international team of investors. The leading investors in the funding round include the US-based private equity firm, Berwind Private Equity, Danish investment firm, Vaekstfonden, and CC Holdings, which is another Danish company. Other investors who participated in this funding round were undisclosed to the public.
Proceeds from this funding round will go to continue and further the expansion of Tantaline and its line of products. Tantaline produces a wide variety of non-corrosive materials developed from tantalum-based alloys which are used in high heat and acidic environments. Founded in 2007, Tantaline was created to develop the finest tantalum-based alloys that can be used in a wide variety of different industries, which include pharmaceuticals, oil and gas, chemical, and mining.
The primary metals that are used in the alloys that Tantaline develops are tantalum and titanium. Other metals that are included in the alloys include other non-corrosive metals that can hold up in highly abrasive environments. The alloys produced by Tantaline are 11 to 23 on the Rockwell C Scale, 56 to 62 on the Rockwell A Scale, and 92 to 100 on the Rockwell B Scale.
Some of the products that Tantaline generates from these alloys include turbines, pumps, laboratory reactors, tube fittings, and more. According to the CEO of Tantaline, Peter Lock, this new funding round will allow the company to continue to grow and to penetrate both US and European markets. The products that Tantaline develops have been disrupting the corrosion prevention industry. There are many different industries which deal with highly corrosive media and the alloy which Tantaline products are made from meet the unmet needs of many companies which use corrosive materials, thus cutting replacement costs.
Berwind Private Equity is a private equity firm which is based in the United States and is a multi-generational company, who’s sole purpose is to identify and execute investment opportunities for the Berwind Family. Other companies in Berwind’s portfolio include MacDougalls, Boston Color Graphics, Coolerado, and others.
There is no information disclosed to the public about the two Danish investors who led the investment round.
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