BILLERICA, Mass., Nov. 7, 2024 ~ Boston Materials, Inc., a leading manufacturer of advanced materials crucial to the development of next-generation semiconductors and aircraft platforms, has announced a new round of funding totaling $13.5 million. The investment was led by AccelR8 and Diamond Edge Ventures, the corporate venturing arm of Mitsubishi Chemical Group, a global leader in carbon fiber production.

This latest round of funding will allow Boston Materials to further expand its presence in the semiconductor market, building upon its existing success in the aerospace industry. The company currently operates a factory in Billerica, Massachusetts where it utilizes its patented Z-axis Fiber™ technology to produce advanced materials.

According to Dwight Poler, CEO of AccelR8, the world is facing an unprecedented increase in energy consumption from computing and transportation. He believes that Boston Materials is at the forefront of developing a new class of materials that can improve both performance and efficiency in energy-intensive systems.

Founded in 2016, Boston Materials has developed a unique class of materials that possess the conductivity and durability of metal while being as lightweight as plastic. This is made possible through their patented Z-axis Fiber™ technology which utilizes vertically aligned carbon fibers to enhance energy transfer properties. These advanced materials are commercialized under the ZRT® trademark and have been proven effective in addressing critical challenges related to thermal management and vehicle weight reduction across industries such as semiconductors, aerospace, and electrified vehicles.

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Curtis Schickner, President of Diamond Edge Ventures, emphasized the strategic importance of carbon fiber for Mitsubishi Chemical Group and praised Boston Materials' Z-axis Fiber technology for expanding its applications into various industries that are shaping the future.

Anvesh Gurijala, CEO of Boston Materials, highlighted the urgent need for advanced energy transfer materials and how their new class of materials can maximize performance and efficiency across various sectors such as data centers, airplanes, and electrified vehicles. He also mentioned that Boston Materials is aggressively expanding its manufacturing capabilities and accelerating global product deployment to meet the growing demand.

In addition to AccelR8 and Diamond Edge Ventures, the $13.5 million equity investment round also saw participation from returning investors Valo Ventures, Gatemore Venture Partners, Collab Fund, and Woori Venture Partners.

For more information on Boston Materials and their innovative Z-axis Fiber™ technology, visit their website at https://www.bomaterials.com/.

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