M&As: Denka invests in CNT start-up firm Carbon Fly; DuPont to buy medical components manufacturer

Japan’s Denka Company Limited has invested in Carbon Fly, a start-up company developing carbon nanotubes, through a corporate venture capital (CVC) fund jointly managed with Pegasus Tech Ventures. Carbon Fly has been involved in the development of nanocarbon materials and their related products, mainly carbon nanotubes (CNTs), using acetylene as a raw material, and Denka says it has been considering collaboration with the firm. Terms were not disclosed.

Carbon Fly possesses the technological capabilities of producing multiwall carbon nanotubes with the features of high purity, uniformly controlled size and ease of processing based on its proprietary manufacturing method, with the philosophy of social implementation of the products in a wide variety of applications.

Through the investment, Denka says it will establish a partnership in joint development for improving performance in combination with its proprietary Denka Black for the purpose of lithium-ion battery applications.

Denka will also support Carbon Fly in its manufacturing technology in developing carbon nanotubes from carbon dioxide as a raw material, thereby aiming to establish a sustainable supply chain for lithium-ion batteries.

As well, Denka set up the CVC fund in January last year in order to promote the creation of new businesses through investment in and/or tie-up with start-ups possessing their own cutting-edge technologies from around the world. It has planned approximately US$100 million of capital spending for initiatives through CVC by FY 2030.

In other news, US materials firm DuPont has announced it has signed an agreement to acquire Donatelle Plastics Incorporated, a medical device contract manufacturer specialising in the design, development and manufacture of medical components and devices. The transaction is expected to close in the third quarter 2024, subject to satisfaction of customary closing conditions and receipt of regulatory approvals.

DuPont's healthcare exposure within the Industrial Solutions line of business of the E&I segment includes Spectrum, a leader in medical device components, and Liveo, a leader in silicone solutions for healthcare applications. The acquisition of Donatelle Plastics Incorporated will bring complementary advanced technologies and capabilities including medical device injection moulding, liquid silicone rubber processing, precision machining, device assembly, and tool building.

Donatelle Plastics, it says, has a strong financial growth profile aligned to attractive therapeutic areas including electrophysiology, drug delivery, diagnostics, cardiac rhythm management, neurostimulation, and orthopedic extremities.

Founded in 1967 and headquartered in New Brighton, Minnesota, Donatelle Plastics has a workforce of more than 400 employees and operates a facility strategically located in a medical technologies hub near leading original equipment manufacturers.

It adds that the firm has established decades-long relationships by providing best-in-class customer service, top-notch quality and injection moulding expertise, as well as being recognised for innovation in medical device and component manufacturing, particularly in complex applications where quality, reliability and technical expertise is required for critical end-use applications.

"We're excited for this next chapter in Donatelle's journey and for our team of highly talented and skilled employees to join DuPont," said Treasa Springett, President of Donatelle Plastics Incorporated. "As a part of a broader healthcare offering, we will have even greater impact on patient outcomes by enabling the innovation and development of next generation devices for patients worldwide."

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