MORRISVILLE – Apjet Inc., an atmospheric plasma technology company with a focus on fabric coatings, wants to raise $2 million in equity and options, according to a filing with the Securities and Exchange Commission.
Apjet machinery
The Morrisville-based company did not state in the filing what it plans to do with the money. Apjet filed in December it wanted to raise $1.3 million by selling options in warrants, although none have been sold.
In March 2014, Apjet raised more than $3 million in equity financing.
Apjet develops a fabric coating technology that eliminates the need for water and reduces the need for high energy and large amounts of chemicals to treat fabrics.
The ApTeX plasma machine is the company’s industrial scale machine for finishing fabrics. The technology can be applied to a wide range of fabric including performance wear, protective fabrics used for combat, automotive fabrics, knits, wovens, nonwovens and all polymer types such as cotton, wool, nylon, silk and polyester.
The company was founded in 2002 at Los Alamos National Laboratory in Santa Fe, New Mexico. In 2008, Apjet formed a development partnership with N.C. State University College of Textiles.
Apjet licenses its technology to customers and the Morrison Textile Machinery and Matheson Tri Gas supply equipment and gasses needed for the process.
John Emrich, president and chief executive officer, joined the company in May 2007. Prior to Apjet, Emrich was the chief executive officer and president of Guilford Mills, Inc.
He received his MBA from Adelphi University in Garden City, New York, and his BBA in marketing from Pace University.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must first file what’s known as a Form D electronically with the SEC after they first sell their securities.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
