Northwestern University gas storage spin-out NuMat Technologies closes $2m seed round.

NuMat Technologies, a Chicago-based gas storage firm, has received $2m in a seed round led by the Goose Society of Texas, an angel investor network.

The round was also joined in participation from Owl Investment Group.

NuMat is commercialising nanoporous materials originally developed at Northwestern University after being spun-out from the institution in 2012. The technology allows for gas storage capacity to be increased by 500,000%.

Ben Hernandez, chief executive of NuMat, said: “This committed group of early-stage investors and…

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