PlastFormance wins HTGF as lead investor for growth financing round
Internationally patented platform technology for innovative materials
The new material start-up PlastFormance strengthens the foundation for further growth and series production at its production site in Berchtesgadener Land, Bavaria. High-Tech Gründerfonds (HTGF) is investing in PlastFormance GmbH with its newly launched HTGF IV fund together with ICIG Ventures Holding S.A. and Jobest GmbH.
From e-mobility to fuel cell technology and nuclear medicine – the technologies of the future require the use of sophisticated material technologies. PlastFormance GmbH functionalizes polymers to enable tasks such as thermal management, power generation or radiation protection through injection molded components suitable for large-scale production.
"We are pleased that we were able to attract new renowned technology investors for our second round of financing to invest in the sustainable development of our company and the market penetration of our functional materials", Joachim Reinhardt, CEO and Co-Founder of PlastFormance GmbH.
The seven-figure investment will be used to drive further growth of the company, scale up production capacity, strengthen the team and promote material development for additional application areas. PlastFormance is already working with customers on application projects. Examples include developing highly electrically conductive injection molded parts for fuel cells or improving the service life of electronic assemblies through optimized thermal management. The high-performance materials can reduce system costs and significantly extend product lifetimes. The first granulates with high thermal conductivity are already available in larger quantities
The seven-figure investment will be used to drive further growth of the company, scale up production capacity, strengthen the team and promote material development for additional application areas. PlastFormance is already working with customers on application projects. Examples include developing highly electrically conductive injection molded parts for fuel cells or improving the service life of electronic assemblies through optimized thermal management. The high-performance materials can reduce system costs and significantly extend product lifetimes. The first granulates with high thermal conductivity are already available in larger quantities.
"The growth potential of the patented PlastFormance technology has also convinced us from a sustainability point of view. With our technology network, we can jointly lead the company to success in a rapidly growing market", Dr. Nikolaus Raupp, Senior Investment Manager at High-Tech Gründerfonds.
For the International Chemical Investor Group, PlastFormance is the first venture investment, which will be followed by further investments in the chemical and materials sector.
"We see a growing market for innovative and functional compounds and are pleased to support PlastFormance GmbH in introducing efficient and scalable production processes", Dr. Achim Riemann, Verwaltungsratsmitglied der ICI Gruppe.
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
Most read news
More news from our other portals
Something is happening in the chemical industry ...
This is what true pioneering spirit looks like: Plenty of innovative start-ups are bringing fresh ideas, lifeblood and entrepreneurial spirit to change tomorrow's world for the better. Immerse yourself in the world of these young companies and take the opportunity to get in touch with the founders.
