NEWS

Mallinda Inc Raises Strategic Investment From SABIC Ventures

Thursday, Mar 14, 2019

Mallinda Inc, an early pioneer in reversible thermoset resins, announces the close of a $2 million strategic investment by SABIC. This round of financing will enable Mallinda to scale up and to deliver its first commercial product, and accelerate the development of its high-performance materials for the transportation segment.

Mallinda's reversible thermoset technology is changing the way composite parts are produced. Long curing times are an impediment to the adoption of lightweight composite materials in high volume industries like the automotive segment due to prohibitively long cycles times. Mallinda's pre-cured reversible thermoset composite materials not only eliminate refrigerated transport and storage, eliminate scrap, and are indefinitely shelf-stable, but also significantly improve cycle time dynamics. In addition, Mallinda's materials contribute to the circular economy as its end-of-life composite materials can be efficiently recycled back to monomer in solution.

"Mallinda's technologies and its lightweight composite materials have the potential for SABIC to become more competitive by shortening the production cycle and reducing cost," said Dr. Fahad Al-Sherehy, SABIC VP of Technology & Innovation.

"Our investment in Mallinda echoes SABIC leadership in promoting and supporting innovative research in the field of thermoset resins and high-performance materials. This strategic investment will help Mallinda in both accelerating its development process and in delivering commercial products. We are excited to support Mallinda in this new phase of growth."

"Mallinda is committed to supplying the composite material of choice for lightweight structural applications across industry segments," said Chris Kaffer, Mallinda Co-founder and CEO. "SABIC's decades of industry expertise, supply chain, and extensive global polymer production infrastructure will play a pivotal role as we move into our next stage of growth. We are excited about the road ahead."

 

Source: prnewswire.com

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