PlasmaBound is helping industries lose weight and reduce their Carbon footprint globally.
PlasmaBound, a University College Dublin (UCD) spin-out, has announced the closing of a €1.1 million investment round.
The company has developed a novel surface treatment technology to enable global manufacturing industries to reduce product weight and meet fuel efficiency and carbon emissions requirements.
PlasmaBound’s patented technology, called controlled polymer ablation (CPA), uses a repeatable and high-speed one-step process, involving the structural adhesive joining of lightweight materials, namely carbon and glass fibre reinforced composites.
The technology enables global players in the automotive, aerospace/space and wind turbine industries to achieve lightweighting goals with simplified and fully automated workstreams.
Such workstreams generate significantly less manufacturing waste, dramatically reduces product weight and also assists industry players to achieve stringent carbon emission and fuel efficiency goals.
Headquartered at NovaUCD, the company was co-founded in 2017 by Dr James Nicholas Barry, Alan Barry and Xavier Montibert as a spin-out from the UCD College of Engineering and Architecture, following the completion of Enterprise Ireland Commercialisation Funding.
Alan Barry, CEO, PlasmaBound, said, “Our CPA technology supports the accelerated adoption of lightweight composite materials into multi-material structural assemblies, by enabling reliable adhesive joining.
“This will allow international enterprises, who are aggressively pursuing light weighting opportunities, to meet current and future carbon emissions and fuel efficiency requirements, with no waste production, reduced reliance on metal fasteners and lower production cost through in-line operation simplification,” he added.
Julie Sinnamon, CEO of Enterprise Ireland, said, “We are delighted to support PlasmaBound and to be part of this investment round. With more and more emphasis on reducing carbon footprint, Plasmabound is developing innovative solutions to enable manufacturers across industries to meet their current and future targets in cutting carbon emissions and generating fuel efficiency.
NovaUCD continues to elevate companies such as Plasmabound that are driving advanced solutions to streamline and simplify processes in manufacturing. I wish the team luck with the project and congratulate the company on its success to date,” she concluded.
The investment round was led by the Atlantic Bridge University Fund, with Enterprise Ireland, and a number of private investors.
PlasmaBound was previously awarded €50k through the ESA Business Incubation Programme and secured an additional €40k through the competitive ESA Technology Transfer Demonstrator Fund.
By Stephen Larkin
Published: 25 June, 2020