FPI Innovation Fund (FPI) has attracted and arranged a co-investment of €10m into ANF Technology, the producer of NAFEN, an aluminium oxide nanofibre to be produced at commercially viable industrial volumes.
NAFEN is claimed to be a breakthrough development in materials science; its physical and mechanical properties – available at large scale production volume with commercially viable pricing – provide industrial players with the potential to unlock innovation across applications including composite ceramics, metal-matrix composites, fuel cells, catalysts, biomedicine, and aerospace.
FPI had previously led a €1m first seed investment round into ANF Technology in June 2010. In early 2012, ANF Technology received a second round investment of €0.5m, with two new co-investors participating.
The previous financing rounds enabled ANF Technology to begin producing NAFEN at commercially viable industrial volumes.
Divided into two tranches, the new funding provides ANF Technology with the necessary financing to scale-up production levels and drive the introduction of NAFEN to the most promising target business sectors globally.