Applied Graphene Materials is reported to have raised about £8.5 million in a recent share sale. The new investment is expected to be used to increase substantially its production capacity.
According to Applied Graphene Materials the company remains focused on driving forward opportunities to win production orders with existing commercial partners, along with new joint development agreements and collaborations. The pipeline of opportunities has grown significantly over the last year, although most collaborations remain subject to strict client confidentiality.
The company has also agreed a link-up with leading US paint producer Sherwin-Williams Protective & Marine Coatings and materials and corrosion management firm TWI in order to develop graphene based anti-corrosive coatings. Innovate UK has confirmed that it will be co-funding the collaboration.
Bryan Dobson, Applied Graphene Materials chairman, said, "The fundraising followed a year of good progress in developing our commercial pipeline, including collaborations with a number of blue chip international partners. Bryan added "Corrosion is estimated to cost the British economy £10bn per annum, primarily affecting major infrastructure sectors such as construction, petrochemicals and transport. Organic coatings loaded with hazardous or environmentally harmful metals such as zinc and chromates are commonly used to protect such structures and so it is desirable to find improved and sustainable alternative solutions. Graphene has been identified as an alternative anti-corrosive additive and the collaboration aims to develop the use of graphene in anti-corrosive coatings. As our customer engagements continue to progress, we are confident that the group remains well positioned to become a leading graphene provider."
Corrosion is estimated to cost the British economy £10 billion per annum, primarily affecting major infrastructure sectors such as construction, petrochemicals and transport. Organic coatings loaded with hazardous or environmentally harmful metals such as zinc and chromates are commonly used to protect such structures and so it is desirable to find improved and sustainable alternative solutions.
Graphene has been identified as an alternative anti-corrosive additive and the collaboration aims to develop the use of graphene in anti-corrosive coatings. The corrosion resistance of a coating is not a single property but a summation of many properties such as barrier resistance, electrochemical behaviour, mechanical strength and resistance to damage.
Source: Applied Graphene Materials