Specialty chemical company, MITO Material Solutions, raised $4.6 million dollars in a funding round that closed in late January. Funding came from a seed extension by existing and new MITO investors such as specialty chemicals solutions provider, Ingevity Corporation, and will be used to expand MITO’s Indianapolis operations, including new lab space for developing industry leading products and new composite material technologies.
MITO’s portfolio of advanced polymer additives includes a proprietary graphene-functionalization technique that creates E-GO, a hybrid polymer modifier currently in production and reportedly in use in several industries. MITO states that its additives enhance fiber-reinforced composites and thermoplastics beyond standard performance metrics and are engineered to integrate into existing production lines at an extremely low concentration with proven compatibility in a variety of material combinations.
“US manufacturers are looking for solutions to help them create lightweight materials that address global climate change issues and contribute to a sustainable future,” noted MITO's Haley Marie Keith. “MITO’s uniquely scalable additive solution set that can be paired with a number of polymers to create stronger, lightweight final products without changing production systems. We are ready to help US manufacturers fight climate change and achieve sustainability goals.”