CHASM Advanced Materials and Aon Close $25 Million Intellectual Property-based Finance Deal
Massachusetts-based advanced materials company CHASM Advanced Materials, Inc. (CHASM™) and Aon plc (NYSE: AON), a leading global professional services firm, have finalized a $25 million intellectual property-based funding arrangement. Aon's Intellectual Property (IP) Solutions team combined its proprietary IP valuation tools and a collateral protection insurance policy to help create an IP-collateralized debt structure that allowed CHASM to raise additional funds.
CHASM Advanced Materials is the inventor and manufacturer of nanotube hybrids – a new class of advanced material used by global manufacturers of commercial and industrial products to dramatically improve device technology, transportation, infrastructure, healthcare and natural resources.
“This injection of growth capital for CHASM comes at a critical time in our company history,” said CHASM’s CEO and co-founder David Arthur. “With these funds, we will execute the further expansion of our printed electronics, advanced carbons and advanced membranes businesses. We are delighted to work with Aon as we enter this next phase of our company’s trajectory.”
AgeNT™ transparent heater films are being integrated into headlights, windows and grille areas of transportation vehicles to uniformly and quickly heat up these surfaces for defogging and de-icing. Transparent heaters are especially important for advanced driver assistance systems (ADAS) to work properly during inclement weather. NTeC™ conductive and reinforcing additives enable faster-charging batteries and also help address a global environmental issue by decarbonizing concrete. CHASM-H2O™ membranes are being developed to make reverse osmosis (RO) systems for water purification and desalination dramatically more efficient and affordable for people, industry and agriculture.
“Intellectual property is a bedrock of our economy. Working with IP-rich companies, such as CHASM, to leverage their IP to access growth capital is truly defining IP as an important and emerging asset class,” said Lewis Lee, CEO of Aon’s Intellectual Property Solutions. “The ability to access capital based on the true value of an organization’s IP portfolio can open a vast number of doors for companies of all stages and industries.”
“Aon is excited to collaborate with CHASM and their talented management team as they expand the delivery of their IP-driven product sets to the market,” said Randy Sidhu, senior managing director, IP Lending at Aon.
Aon was recently named to Fast Company’s Most Innovative Companies list for its ground-breaking IP solutions. IP and intangible assets now represent 90 percent of the value of Fortune 500 companies, but IP value is not widely understood in capital markets. Aon is working with companies like CHASM to help them seek access to minimally dilutive growth capital by valuing intangible assets and structuring capital solutions that leverage such value.
About CHASM
CHASM Advanced Materials, Inc. is the inventor and manufacturer of nanotube hybrids – a new category of advanced materials that make the world a safer, more connected and sustainable place. For more information, visit www.chasmtek.com, or follow us on Twitter, LinkedIn, Facebook, WeChat or Instagram.
Media Contact
Leanne Hersey, Director of Marketing
+1 781 989 1401
Investor Contact
David Rainey, Chief Financial Officer
+1 781 989 1411
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business. Follow Aon on Twitter LinkedIn. Stay up-to-date by visiting the Aon Newsroom and sign up for News Alerts here.
Media Contact
Nadine Youssef
+1 312 381 3024
Safe Harbor Statement
This communication contains certain statements related to future results, or states Aon's intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. These forward-looking statements include information about possible or assumed future performance and results of Aon's operations. All statements other than statements of historical facts that address activities, events or developments that Aon expects or anticipates may occur in the future, including such things as its outlook, business strategies, competitive strengths, goals, the benefits of new initiatives, growth of its business and operations, plans, references to future successes, are forward-looking statements. Also, when Aon uses the words such as "anticipate", "believe", "estimate", "expect", "intend", "plan", "probably", "potential", "looking forward", or similar expressions, it is making forward-looking statements.
Any or all of Aon's forward-looking statements may turn out to be inaccurate, and there are no guarantees about Aon's performance. Aon and its subsidiaries operate in a dynamic business environment in which new risks may emerge frequently. Accordingly, you should not place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. In addition, results for the year ended December 31, 2020, and the quarters ended March 31 and June 30, 2021, are not necessarily indicative of results that may be expected for any future period, particularly in light of the continuing effects of the COVID-19 pandemic. Further information concerning Aon and its businesses, including factors that potentially could materially affect Aon's financial results, is contained in Aon's filings with the Securities and Exchange Commission (the "SEC"). See Aon's Annual Report on Form 10-K for the year ended December 31, 2020 and its Quarterly Reports on Form 10-Q for the quarters ended March 31 and June 30, 2021, for a further discussion of these and other risks and uncertainties applicable to Aon and its businesses. These factors may be revised or supplemented in subsequent reports filed with the SEC. Aon is not under, and expressly disclaims, any obligation to update or alter any forward-looking statement that it may make from time to time, whether as a result of new information, future events or otherwise. Aon is not responsible for information contained in this communication relating to CHASM, including statements regarding its operations, products or services.