The investment, led by international venture capital firm SOSV, will fund the completion of a commercial manufacturing unit located in Richmond. SOSV has invested US$3.9 million in Verdex to date.
Verdex uses a proprietary solvent-free process with only low heated air to produce its nanofiber media. The patented Verdex process provides a 3D nanofiber media which combines high submicron particle capture.
“One of the most unique abilities in The Verdex Process is our ability to customise and functionalise our nanofibers. This allows Verdex to incorporate particles into the fiber matrix to target specific challenges and problems in multiple industries to create game-changing products,” said Damien Deehan, co-CEO at Verdex.
This latest investment follows ten years of customer validation from nonwoven companies, R&D and patent filings, resulting in a unique functionalised production technology that is capable of producing a wide range of advanced nanofiber products.
Verdex is actively looking for companies who are interested in purchasing nanofiber media and integrating this patented technology into their own products to create higher value products.
The company was founded in 2010 by Dr Larry Marshall, who spent his career at DuPont developing and commercialising Tyvek.