New $2.1M Round Raised by E2e Materials

E2E Materials - Ithaca, NY

October 01, 2012

E2e Materials, Inc. reported in a filing with the U.S. Securities and Exchange Commission that it had raised $2.1 million in new funding. This amount was an increase from their last filing of $1.5 million which took place in January 2011, and $4.5 million, the previous year in January 2010. The company manufactures biocomposite-based products for office furniture, cabinets, automobile interiors and home hardware. The biocomposite is a stronger, more cost-effective, environmentally-conscious substitute for wood-composites and moldable plastic. The biocomposite, is made from fibers like flax, kenaf and jute combined with a soy resin, that contains no formaldehyde or petroleum-based products and is biodegradable. The company has received $300,000 in product development awards from NYSERDA.

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Information on NYSERDA's Research and Development Projects with this company: E2e Materials, Inc.

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239 Cherry Street
Ithaca, NY 14850

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