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Chapman Innovations was founded in Salt Lake City, Utah in 1998. The Company manufactures and sells CarbonX, a patented, non-flammable, fire resistant textile.
CarbonX is an O-Pan based yarn, strengthened with an aramid. The result is a versatile fire retardant product which can be comfortably worn next to the skin, is essentially non-flammable, and is demonstrably superior to any product available. CarbonX is currently being made into hoods, gloves, clothing, blankets, racing suits, socks, and underwear and is constantly being evaluated for new and unique applications. CarbonX is being used in the steel industry, motor sports and, of course, the fire industry. Two of the top three steel manufacturers in the US now wear CarbonX clothing, socks and underwear. The Chicago fire department is among a growing number of customers using hoods manufactured with CarbonX.
Banyan Ventures made an initial investment in Chapman and assumed management control in March of 2003. Subsequently Banyan has put in place an entirely new management team, helped to refine the manufacturing processes, and dramatically increased the company's revenue. In 2005, the Mountain West Capital Network selected Chapman as the 7th fastest growing company in Utah.
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