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Cary Street Partners Raises Capital for Nanotechnology Company

August 16, 2006 - Cary Street Partners served as the exclusive advisor for NanoChemonics, Inc. in connection with its growth funding by Spotswood Capital, LLC, a Greensboro, North Carolina based investment firm.  The capital is intended to fuel the commercialization of the company’s vast portfolio of iron oxide based nanoparticles. 

NanoChemonics, based in Pulaski, Virginia, produces nanoparticle iron oxide and other nanoparticle oxides. NanoChemonics’ iron oxide based products can be used to provide unique solutions for  companies involved in mining, purification and separations, coatings, cosmetics, catalysis, environmental remediation as well as in traditional applications in magnetic media, inks and toners. NanoChemonics, Inc. (formerly Magnox Corporation) has been at the forefront of research and development in a variety of nanoparticles applications. The company has produced and sold commercial quantities of nanoparticle iron oxides for coating and magnetic applications since 1997, and has the commercial capability to produce de-agglomerated particles as small as 5 nanometers. Current monthly production capacity is in excess of 600 metric tons of nanoparticle iron oxide in aqueous, dry powder, or press-cake form.