Xolve, Inc. Announces New President and CEO Joe Beatty
November 12th, 2013 Middleton, Wisconsin. Thirty Two Year Specialty Chemical Industry Veteran and Former Managing Director of ColorMatrix North America Joins Cutting Edge Advanced Materials Company
The Board of Directors of Xolve, Inc. is pleased to announce the appointment of Joe Beatty as President and Chief Executive Officer of Xolve, Inc. This important appointment recognizes Xolve’s transition from an early-stage technology development company to a committed supplier of graphene-based products.
Xolve was formed in 2010 from a ground-breaking advanced nanochemistry discovery out of the University of Wisconsin system. With the aid of venture and strategic financing, the company has added to the licensed nanochemistry technology and is currently focused on product application areas in high-end plastics, composites, and energy storage.
Eric Apfelbach, Xolve Chairman of the Board said: “We are thrilled to have the broad talent and experience of Joe Beatty leading our company in this important transition to the supply of products to customers and partners. Joe has the proven sales and development experience to lead the introduction of our performance enabling graphene-enhanced products into the marketplace. Joe will also lead our next round of financing as we bring together the assets to develop, manufacture, and deliver graphene and other nanochemistry products to our customers.”
Prior to joining Xolve, Joe Beatty held a variety of executive management, sales, and product development positions in the specialty chemical industry. Most recently, Mr. Beatty was ColorMatrix Corporation’s Managing Director of North America from 2008 through 2012. Prior to joining ColorMatrix, Mr. Beatty was Vice President of North America for MetoKote Corporation and has held senior management positions with Hexion Specialty Chemicals and its predecessor companies (McWhorter Technologies, Eastman Chemical and Resolution Specialty Materials) including Vice President Coating Resins – Americas; Global Business Director – Coatings; and Business Director Specialty Resins and Monomers. He began his career in the Industrial Water Treatment industry with WR Grace – Dearborn Division, ultimately being named Vice President of Sales and Marketing. After the formation of Betz Dearborn he was Vice President Sales for the Industrial Division. Mr. Beatty has a bachelor’s degree from the University of Pennsylvania.
NEW CAPITAL FUND II MAKES FIRST INVESTMENT IN XOLVE
July 30, 2012 Madison, Wisconsin. Today Xolve, Inc., an early stage nanomaterials company, announced the close of a $2 million internal funding round that prominently featured one of the first investments by Appleton’s New Capital Fund II and the use of WEDA matching money in the round. New Capital Fund, an Appleton-based regional venture fund, had participated in Xolve’s first funding round in December of 2010 along with Royal DSM N.V., Peak Ridge Capital, Inc. and The Nordic Group, Inc.
New Capital’s participation in this round was highlighted by the fact that this was one of the first investments made by the newly constituted $25 million Fund II,. New Capital’s Fund II has two attributes that underscore Wisconsin participation in early stage companies. New Capital has a co-investment fund that allows individuals that invested in the fund to participate along side the fund and invest additional capital in companies being funded by New Capital. New Capital was also chosen by WEDA to participate in a matching program designed to boost investment in Wisconsin entrepreneurial companies. “We are greatly appreciative of New Capital’s participation in this round and for its unique structure that adds to the funding round through co-investment from fund members and through the 20% matching participation of WEDA”, said John Biondi, CEO of Xolve. “This increased the funding available while decreasing the time required to constitute the round.”
“We are pleased with the progress that Xolve has made toward commercializing a wide range of important industrial materials”, said Charles Goff, Managing Director of The New Capital Fund. Xolve is based on a nanomaterials discovery from the University of Wisconsin-Platteville. The company is manufacturing graphene, the world’s strongest and most conductive material, and using it to improve the properties of numerous industrial plastics for use in automotive, aerospace and electronic applications, among others. ###
1600 Aspen Commons
Middleton, WI 53562
For New Capital Fund:
New Capital Management, Inc.
200 E. Washington Street
Appleton, WI 54912