An oversubscribed fundraising round for US manufacturer demonstrates growing investor interest in graphene.
Nanotech Energy, a leading supplier of graphene, announced that its ‘Series C Preferred’ round of funding was expected to close at $25 million for a post-money valuation of US$227.5 million. All this in a COVID-impacted economy.
Said Dr. Jack Kavanaugh, chairman and CEO of Nanotech Energy Inc. “The underpinning technology attracting the funding is not graphene, but rather a proprietary battery technology enabled by graphene.”
What does this mean for graphene-powered Australian innovators?
In addition to providing a current benchmark for valuations, it also shows that cleantech, energy-related and graphene-enabled technologies are being supported on a global scale. It is a demonstration of confidence in the emerging power of graphene as a solution to many seemingly intractable problems.
It is also indicative of the power of the graphene sector as a driver of technology, advanced manufacturing and environmental solutions, making it a highly-attractive target for government support, such as that on offer through the Federal Government’s Technology Investment Roadmap.
Australia is regarded as having some of the world’s finest materials engineers. Our burgeoning graphene-based industries are showing stunning progress in areas of technology even more advanced and transformative than those outlined in this article.
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