Nanotech Energy Secures $64 M for Global Graphene Business

Highlights :

  • The company has raised $64 million Series D funding at a $550 million post-Series D valuation, taking its total amount of funding raised to date to $94.9 million.
  • The funds will be utilised to accelerate international expansion, including the launch of its EU headquarters in Amsterdam, and to develop a new high-volume graphene battery manufacturing facility in Reno, Nevada, US.

American graphene-based batteries maker Nanotech Energy has raised $64 million Series D funding at a $550 million post-Series D valuation to accelerate international expansion, including the launch of its EU headquarters in Amsterdam, and to develop a new high-volume graphene battery manufacturing facility in Reno, Nevada, US.

Led by Taiwan’s largest financial services company, Fubon Financial Holding Co, the Series D funding brings the total amount of funding raised to date by Nanotech Energy to $94.9 million.

The Nevada manufacturing facility is expected to open in late 2022 and create jobs in the Greater Reno market. Nanotech Energy also plans to increase capacity in its current Chico, California factory for graphene itself, graphene-based conductive inks, adhesives, EMI shielding and silver nanowires.

In September 2020, the company announced that it had developed a process to produce 90% monolayer graphene, becoming the first and only producer to break the 50% content barrier. In March 2021, Nanotech Energy achieved 95% monolayer graphene and is fast approaching 98% monolayer graphene (confirmed by AFM, TEM, SEM and XRD techniques).

A major manufacturer of graphene, the company claims to be the only producer of non-flammable, graphene-based batteries.

“We’ve spent more than seven years diligently creating new materials to improve battery storage capacity and safety and are now moving into a new phase of production at industry-level scale,” said Nanotech Energy CEO and co-founder Dr. Jack Kavanaugh. “We’re pleased to have an investor like Fubon, who recognizes the incredible opportunities presented by graphene, embraces science and shares our vision,” he added.

“Nanotech Energy’s batteries are not only the safest batteries but also highest performing. They demonstrate higher cycle life, better performance at temperature extremes, better range and are faster charging,” added Dr. Maher El-Kady, Chief Technology Officer of Nanotech Energy.

The firm states that graphene is 200 times stronger than steel, 97% transparent, extremely light in weight, flexible and stretchable — making it the thinnest, strongest and most flexible material known. Nanotech Energy owns the world’s first graphene patent, filed in 2002 by Nanotech Energy co-founder and UCLA professor of Chemistry and of Materials Science and Engineering, Dr. Richard Kaner. Notably, Dr. Kaner filed the patent two years before the graphene work of Nobel laureates, Geim and Novoselov.

“We believe Nanotech Energy’s proprietary, non-flammable graphene batteries have a clear path to widespread adoption and global scalability,” said Richard Tsai, Chairman of the Fubon Financial Group. “We are excited to play a role in helping Nanotech Energy transform the future of battery technology and energy storage, and look forward to our partnership with Jack Kavanaugh and his inspiring team as they work to bring their batteries to market.”

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Soumya Duggal

Soumya is a master's degree holder in English, with a passion for writing. It's an interest she has directed towards environmental writing recently, with a special emphasis on the progress being made in renewable energy.

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