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Impact Nano is well positioned to grow the materials ecosystem in the U.S.

By Sean Doyle and Jennifer Ard

Within the semiconductor ecosystem, materials continue to be a source of innovation in enabling Moore’s Law. Within Intel Capital, materials have been an area of investment activity since the group’s inception. Historically, we have viewed materials investments broadly, including introducing novel materials into semiconductor manufacturing process technologies, scaling manufacturing capability for these materials, and expanding capacity to enable volume materials supply on a global, cost-effective scale. Intel Capital’s activities in materials reflect these interests as represented by prior investments in companies such as Tri Chemical Labs, Epichem, Voltaix, Inpria and Digital Specialty Chemicals – all of which enabled a new technical capability or supply opportunity in the semiconductor ecosystem.

Today, we are excited to announce Intel Capital’s latest materials investment in Impact Nano. Intel Capital led Impact Nano’s most recent financing, joining Goldman Sachs Asset Management which led prior rounds, to provide more than $32 million in total financing since the company’s inception in 2019.

Impact Nano is a U.S.-based producer of deposition precursors and electronic specialty gasses for semiconductor, energy storage and other industries working to innovate in both new product development and production scaling to support customers worldwide. The company has expertise in ligand, organometallic, silicon and fluorine chemistries. Founded by Matt Stephens and Mark Wilkinson, who are industry veterans and were part of the leadership team at a former Intel Capital portfolio company, Impact Nano’s growing team is composed of industry experts with decades of experience in the materials space. 

Matt and Mark bring experience in product development and manufacturing engineering, including an intense focus on process control and safety for difficult to manufacture materials. The Impact Nano facilities in Massachusetts provide the ability to safely manufacture critical materials domestically, providing customers with a new, stable option to source certain materials domestically. Additionally, the company is employing “green” chemistries and is implementing circular manufacturing techniques to help its customers meet their environmental and sustainability goals.  

The funding will allow Impact Nano to expand its team, grow its materials catalog and enhance its production facilities in Massachusetts. 

We believe that Impact Nano is well positioned to grow the materials ecosystem in the U.S. We are excited to invest in the company and join the board of directors.

Investing in the future of materials

Devens, MA – May 4, 2023 – Impact Nano L.L.C., a U.S.-based chemical manufacturing company enabling sustainable computing with advanced materials, has raised $32 million in total funding in successive rounds from Goldman Sachs Asset Management, Intel Capital and other investors. In conjunction with the latest financing, Sean Doyle, Intel Capital Managing Director, will join the board of directors.

Impact Nano’s initial focus on volume manufacturing within North America aligns with the expected growth of the industries it serves domestically, including the semiconductor supply chain, and its manufacturing base is capable of supporting customers worldwide.

As an advanced materials supplier, Impact Nano has expertise in ligand, organometallic, silicon, and fluorine chemistries and supplies patterning photoresists, deposition organometallics, and etching gasses that enable the fabrication of leading-edge integrated circuit designs. Impact Nano maintains a strong commitment to safety and addresses global sustainability challenges in advanced materials development and manufacturing by employing green chemistry and circular manufacturing approaches, reducing the environmental impact of computing and semiconductor manufacturing.

Impact Nano develops and manufactures critical materials suitable for multiple industries including semiconductor, energy storage and healthcare markets.

“Impact Nano plays a critical role by manufacturing materials with precisely controlled chemical fingerprints, enabling atomic level control in advanced semiconductor fabrication,” said Matthew Stephens, CEO and Co-founder of Impact Nano. “We are excited to announce Goldman Sachs and Intel Capital’s investment towards our efforts to safely produce materials in the U.S., thereby addressing overseas supply chain challenges.”

“We are excited to team with Intel Capital to accelerate the growth of Impact Nano through the recent funding,” said Jeff Possick, a Managing Director in Goldman Sachs Asset Management. “The capital will help enable the Impact Nano team to capitalize on the increasingly high volume of business opportunities available in the current environment.”

“Impact Nano is establishing a safety-first source for on-shore manufacturing of advanced materials in the U.S.,” said Sean Doyle, Managing Director, Intel Capital. “Impact Nano founders Matt Stephens and Mark Wilkinson are experienced leaders in the specialty chemical domain, and their expertise will enable Impact Nano to be a quality source of materials innovation and domestic supply for advanced materials.”

This financing round comes on the heels of a year of major accomplishments including the qualification of products at multiple end users, tripling its customer base, achieving ISO certification, and scaling up four processes successfully.

The funding will allow Impact Nano to expand its North American manufacturing capacity, materials development pipeline, storage and distribution capabilities. The company will also increase local hiring and accelerate its development efforts to address the application and supply chain needs of its customers.

About Impact Nano

Impact Nano is an advanced materials supplier that emphasizes safety for its employees, the community and the environment. Based in Devens and Orange, MA, the company is creating high-quality technical and manufacturing jobs in Central Massachusetts and the Pioneer Valley.  Led by repeat founders with over 40 years of combined experience in advanced materials, Impact Nano’s leadership team has brought more than 30 products to market for the semiconductor, green energy, automotive and pharmaceutical industries. The company was founded in 2019 and has raised over $30 million in capital to date.

About Goldman Sachs Asset Management

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2.5 trillion in assets under supervision worldwide as of December 31, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Follow us on LinkedIn.

About Intel Capital

Over three decades, Intel Capital has invested more than US $20 billion in the future of compute, funding standout, early-stage startups across four key areas of the tech ecosystem; Silicon, Frontier, Devices and Cloud. Intel Capital-funded companies created more than US $150 billion in market value in the past 10 years. For more information, visit www.intelcapital.com or follow @Intelcapital.

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Impact Nano, chip materials startup, wins funding from Intel, Goldman Sachs

OAKLAND, California, May 4 (Reuters) – Impact Nano, a Massachusetts-based startup that makes specialty chemicals for the semiconductor industry and others, said on Thursday it raised $32 million in funding from investors including Intel Capital and Goldman Sachs Asset Management.

It also said Intel Capital’s managing director, Sean Doyle, will join the board of directors.

As the U.S. tries to bring back semiconductor manufacturing with the CHIPS and Science Act, it will need to invest in building up the broader supply chain in addition to the multibillion-dollar chip fabrication facilities.

The war in Ukraine has exposed several choke points on the chemical side of the chip industry that need to be fixed. That is because Ukraine is a major producer of neon gas, a key material used in the production of chips.

“Many of the chemicals that we’ve been asked to synthesize so far are not currently made in North America. And they are made in regions of political instability,” said Matthew Stephens, CEO and co-founder of Impact Nano.

Stephens said Impact Nano is inventing new ways to produce chemicals that chip makers use. Among the company’s focus areas, he said, are increasing the purity of the chemicals, finding raw materials that are more abundant and comply with ethical guidelines, and making the process more environmentally friendly.

He declined to identify current customers but said the chemicals produced are key materials for the extreme ultraviolet lithography process (EUV) which is how today’s most advanced chips are made.

The funding will be used to expand the Massachusetts factory. Stephens also said Impact Nano is looking to apply for some of the CHIPS Act funding that will support the suppliers for semiconductor manufacturing.

Goldman Sachs Asset Management is part of Goldman Sachs Group Inc (GS.N) and Intel Capital is the investment arm of U.S. chip giant Intel Corp (INTC.O)

https://www.reuters.com/markets/us/impact-nano-chip-materials-startup-wins-funding-intel-goldman-sachs-2023-05-04/