For Immediate Release
Contact:
Hilda Darian
Xtalic Corporation
508-485-9730 x202
www.xtalic.com
Xtalic Welcomes Tom Clay as Chief Executive Officer
Marlborough, MA – March 1, 2008
Xtalic Corporation is pleased to welcome Tom Clay as President and Chief Executive Officer. Tom brings more than a decade of experience bringing start up technologies to commercial success. Tom takes the reins from co-founder Alan Lund, who will be moving forward as Chief Technology Officer and focusing on new product development and commercialization of the first Xtalic nanostructured metals.
“We are excited to have Tom on board to help us develop our market and grow the company,” says Lund. “Our products are being validated now across a range of applications. Tom’s leadership will help us ramp quickly and take advantage of our technology’s potential.”
“This is a very exciting time for Xtalic and I am thrilled to be part of it,” says Clay. “We are pioneering Xtalic’s revolutionary materials into a host of applications. Many of our development partners across a host of industries see that their traditional materials have reached limitations of performance and environmental acceptability. Xtalic’s unique control of nanostructure breaks through traditional limitations and offers a whole new world of possibilities.”
Clay brings a successful track record of commercializing and scaling innovative technologies, most recently with Z Corporation, another successful MIT start up. Clay joined Z Corporation as the company was first commercializing products and helped grow the company to a leadership position in the industry with revenues of $47 Million in 2007.
“Tom’s proven track record makes him a great fit for Xtalic as the company moves into commercialization and ramp up,” says Stan Reiss, an Xtalic board member and general partner at Matrix Partners. “Tom will be able to build on the solid technical foundation in place and accelerate successful product launch and company scale up. We are excited to see such a great team come together around this exciting opportunity.”
About Xtalic
Xtalic offers unique nanostructured metal coatings that provide corrosion resistance, wear resistance and exceptional appearance across a wide range of applications, including decorative and functional metal finishing, as well as electronics. Xtalic’s technology delivers premium performance through precisely and dynamically controlling metal structure at the nanometer scale through a robust electroplating process. Xtalic’s coating process is free of hexavalent chromium, reducing environmental compliance costs and worker safety hazards.
Xtalic was founded in August of 2005 to commercialize the work of Professor Chris Schuh and Dr. Alan Lund of MIT. Xtalic received A Series equity financing in 2007 from Matrix Partners, North Bridge Venture Partners and the investment fund of the Wolfensohn family.