California Nanotechnologies Announces SPS Equipment Purchase to Further Enhance Capabilities at New Facility
- Cal Nano solidifies its SPS leadership with the purchase of a state-of-the-art MSP-5 Spark Plasma Sintering machine from Dr. Fritsch.
- The new equipment is expected to be the largest SPS machine commercially available in North America, enabling larger part sizes and higher production volumes.
- CEO Eric Eyerman highlights the machine's potential to unlock new customer applications in key growth areas.
- The funding for the purchase will likely come from a mix of current cash reserves, operational cash flows, vendor financing, and customer support.
- Cal Nano has made significant investments in manufacturing capabilities over the past year, including acquiring cryomills and additional SPS systems to meet growing customer demand.
- The company secured approximately US$1 million in purchase orders in the fiscal quarter ending February 29, 2024, showcasing the demand for its manufacturing services.
- None.
- Cal Nano secures larger, cutting-edge SPS equipment with a
$300,000 down payment - Opens up new customer opportunities with ability to process larger part sizes and higher volumes
- Follows recent key developments and investments to enhance manufacturing capabilities
Los Angeles, California--(Newsfile Corp. - March 5, 2024) - California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) ("Cal Nano" or the "Company") is pleased to announce a US
"We are ecstatic to announce this down payment as we build on a thesis developed over five years ago that SPS would become a more prevalent technology," stated CEO Eric Eyerman. "This machine is expected to open new customer applications in key growth areas, such as aerospace, cleantech, renewable energy, and industrials. These opportunities were previously beyond our reach due to the part size and throughput limitations of our current machines. Overall, Cal Nano has assembled a unique offering of advanced materials manufacturing capabilities that can scale with customers from R&D projects to commercial production."
The new SPS equipment, which is expected to be delivered in late calendar year 2024, will exert a maximum force of 500 tons and run on an electric current of 85,000 amps. This is around five times the power of Cal Nano's current largest SPS machine in terms of force and approximately nine times in terms of electric current.
Although the full funding structure is yet to be formalized, Cal Nano expects to potentially finance the purchase using a blend of current cash reserves, operational cash flows, vendor financing, and support from customers.
In the last twelve months, Cal Nano has undertaken various initiatives to strengthen its manufacturing capabilities and capacity, such as:
- July 2023: Procured a used cryomill, the third and largest to date, increasing cryomilling capacity multifold in anticipation of heightened customer demand
- October 2023: Acquired a piece of equipment that performs additive manufacturing, also known as 3D printing, in conjunction with SPS technology
- December 2023: Purchased a third, smaller SPS system for installation at the Cerritos headquarters
- February 2024: Procured another used cryomill, the fourth and largest to date, increasing cryomilling capacity further along with signing new manufacturing facility lease in Santa Ana
- March 2024: Announced a down payment for an MSP-5 SPS system to increase scale, capable of accommodating higher production volumes and larger part sizes
Cal Nano is developing products with a variety of customers that have the potential to utilize the new SPS capacity once it becomes operational at the new facility. In the fiscal quarter ending February 29, 2024, Cal Nano secured approximately US
About California Nanotechnologies Corp.
At Cal Nano, we envision a world in which our advanced technologies are used to help make the most innovative products on this planet and beyond. Global leaders trust us to help push the boundaries of applied material science by utilizing our unique technical expertise and vision. Headquartered in Greater Los Angeles, California, Cal Nano hosts advanced processing and testing capabilities for materials research and production needs. Customers range from Fortune 500 companies to startups with programs spanning aerospace, renewable energy, defense, and semiconductors.
For further information, please contact:
California Nanotechnologies Corp.
Eric Eyerman, CEO
T: +1 (562) 991-5211
info@calnanocorp.com
Otis Investor Relations Inc.
Brandon Chow, Principal & Founder
T: +1 (647) 598-8815
brandon@otisir.com
Reader Advisory
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FAQ
What is the significance of the $300,000 down payment by California Nanotechnologies Corp.?
What are the key industries that Cal Nano aims to cater to with the new SPS machine?
How does Cal Nano plan to finance the purchase of the new SPS machine?
What investments has Cal Nano made in its manufacturing capabilities in the past year?
How much purchase orders did Cal Nano secure in the fiscal quarter ending February 29, 2024?
