Last week Ionic Industries announced they have been successful in raising over $2 million dollars though a capital raising with Melbourne Capital Limited. Funds were raised from qualifying investors, being s708 sophisticated, institutional investors, licensed securities dealers and other exempt investors.
The funds will be used for a range of functions in support of their ongoing supercapacitor technology development and scaled-up manufacturing, including:
- Intermediate scale up equipment $300,000
- Ongoing research $550,000
- Commercial Negotiations $180,000
- Pre-IPO Costs $450,000
- Working Capital (incl cost of raise) $520,000
The success in attracting new investors to the company at this time indicates great confidence in Ionic Industries’ work and comes at a critical time for the business as they continue planning for scaling up their production of supercapacitor electrode material.
Following a long period of reduced tempo in development work due to COVID restrictions, Ionic Industries are now back to COVID-normal operations and looking forward to making significant progress over the coming months. Their focus areas include advancing commercial testing of materials, progressing commercial discussions with potential partners and exploring new avenues to market for bespoke supercapacitor applications.
If you have any questions or would like to know more about this article, please reach out to Simon Savage, Managing Director at Ionic Industries, at email@example.com.