Ursataur Capital Management and BASF Venture Capital have invested USD6m in Quantiam Technologies, which develops coating products for extreme-operating environments and energy-related applications.

Quantiam has developed three key coating families for surfaces of complex shapes that are applied to petrochemical furnace coils to reduce carbon formation, to oil and gas extraction and processing industry equipment to extend the useful life of high value parts, and to protect critical equipment in defence applications subject to extreme operating environments.

Quantiam's customers include several of the petrochemical industry's olefins producers, companies in the oil and gas industry, and the United States Department of Defense.

Quantiam will use the proceeds of the investment and further investment from its existing shareholder base to finance its growth, including a manufacturing expansion that will more than triple its capacity.

"We are thrilled to have the support of Ursataur Capital Management and BASF Venture Capital as we commercialise our disruptive coatings through mutually rewarding customer partnerships supported by our capacity expansion. Our investment partners' experience in supporting the growth of businesses, their technical and commercial expertise, and their industry knowledge will add value to Quantiam from day one and we look forward to their perspectives and involvement in growing Quantiam as both shareholders and members of our board of directors," says Steve Petrone, chief executive officer and founder of Quantiam Technologies.