Funds help develop ‘tougher than steel’ graphene process
Claus Marquordt: first to market
A Scottish company which is developing a process for fusing graphene onto a variety of materials has raised £3.1m from investors to scale up its operations.
Graphene is said to be 100 times stronger than steel, very light, extremely flexible and a highly efficient conductor of electricity.
Stirling-based Integrated Graphene has developed an innovative process to produce 3D graphene foam directly onto any surface, at room temperature and in seconds.
It believes this will meet the key requirements of a worldwide graphene market, estimated to be worth $6 billion by 2030.
Graphene is expected to have applications in human diagnostics, power storage, electronics, solar power and water filtration amongst others. However, existing manufacturing methods make it extremely expensive to produce in large quantities and quality consistency has been an issue.
The investment was led by Archangels, supported by Par Equity, Techstart Ventures and ESM Investments. A number of Integrated Graphene’s original seed investors also participated.
The cash will be used by Integrated Graphene to fund equipment to demonstrate product performance at the next scale-up level and to significantly expand resource for commercialisation of its 3DG foam, Gii.
Claus Marquordt, co-founder & CEO of Integrated Graphene, said: “Ultimately, this funding round will enable us to capitalise on being first to market world-wide with high performing, cost effective, application-specific 3D Graphene Foam, enabling better products.”