The financial terms of the deal have not been disclosed.

We remain confident that the technology harbours tremendous potential ...
Patrick Thomas, CEO, Bayer MaterialScience

FutureCarbon GmbH, based in Bayreuth, Germany, specialises in the development and manufacture carbon-based composites and is a long time development partner of Bayer.

Bayer MaterialScience announced the conclusion of its CNT projects in May 2013 in order to focus on areas more closely linked to its core business.

Bayer says various companies indicated their interest in making use of the intellectual property developed as part of its research. FutureCarbon was one of its partners in the Innovation Alliance for Carbon Nanotubes (Inno.CNT), a network involving around 90 organisations supported by Germany's Federal Ministry for Education and Research (BMBF). 

"We are happy that we were able to acquire the Bayer patents for further market realisation of the technology," says Dr. Walter Schütz, managing director of FutureCarbon.

"They expand our applications base substantially and open up new possibilities and business segments for us."