Cleveland – October 12, 2026 -- Peak Nanosystems has closed a $25mm investment from Squadron Capital to fund its acquisition of Cleveland-based PolymerPlus, giving the nanotechnology group entry into the capacitor market.
Peak Nanosystems is the parent company of Peak Nano Optics and Peak Nano Films. It will also use proceeds to expand in-house optical product development.
Acquisition secures exclusive nanolayered film IP from Case Western Reserve University
Through the deal, Peak Nanosystems gains exclusive rights to broad nanolayered film intellectual property developed at Case Western Reserve University. It also acquires in-house technology developed by PolymerPlus. The rights cover both optics and film capacitors.
The companies began working together in 2016 to scale production of nanolayered films for high-performance gradient refractive index (GRIN) lenses, which Peak Nano Optics markets. CEO Jim Welsh described the acquisition as the follow-through on that effort. He said it opens the capacitor market to the company's thin film technology.
Peak builds new Cleveland production lines for 2021 capacitor launches
Peak Nanosystems President Chad Lewis said the capacitors are ready for broad-scale launch. New production lines are being built in Cleveland to support product launches in 2021.
Separately, Peak Nano Optics is building a $30mm production facility in Cleveland, scheduled to come online in Q2 2020. The company says it will be the most advanced optical design and manufacturing facility in the world when it opens.
Squadron Capital backs optical and electrical capacitance applications
Lewis said Peak Nanosystems met a large number of potential institutional partners, drawn by its optics success over the past year, before choosing Squadron Capital. Squadron President Dave Pelizzon said the firm is confident Peak's technical expertise and manufacturing processes will lead to much broader use of the technology in optical and electrical capacitance applications. He added that integration into medical devices is also likely to offer significant possibilities.