Department of Defense grants funding to nano manufacturing company

Nanocomp Technologies will be getting $18.5 million in funding from the U.S.

The U.S. Department of Defense will be awarding $18.5 million in funding to Nanocomp Technologies, a developer of performance materials for products made of carbon nanotubes. The funding will be distributed under the Defense Production Act Title III program (DPA Title III).

The DPA Title III program helps fund the production and manufacturing of products that are necessary for national defense. This is not the first time Nanocomp has received funding from the DoD. In 2011, the DPA Title III program awarded $2.2 million to Nanocomp to build a 30,000-square-foot manufacturing plant in New Hampshire. The new plant added 60 jobs in the process. Companies, like Nanocomp, can use manufacturing recruiters to help them find experienced workers for their businesses.

Mark Buffler, DPA Title III program manager, said in a statement the aim of this program is to help expand businesses.

"A key goal of this effort is to expand and mature manufacturing operations production capability to meet current and projected DoD demand," Buffler said. "As there is a greater national need for CNT products, we have executed DPA authority under the Title III program to further invest in the expansion of cost-competitive, flexible manufacturing capabilities in support of the country's anticipated needs."

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