Research firm hauls in $2M

ODESSA — Dais Analytic, a nanotechnology research company, received $2 million in capital from a longtime shareholder.

The Odessa-based firm will use the funds for working capital and to repay a promissory note held by Platinum-Montaur Life Sciences, according to a release. “The company is thankful to Platinum-Montaur Life Sciences for their past and continued support,” says Dais Analytic President and CEO Tim Tangredi in the release.

Dais Analytic uses nanotechnology research to create products for air and water purification, heating and cooling, and power storage that use less energy. Tangredi, in the release, says the firm and the shareholder with the capital will work with a company in the heating and air conditioning industry to create a new product line.

Dais Analytic is publicly traded over the counter (symbol: DLYT, recent price: 10 cents.) Read a 2010 story in the Business Review about the firm here.