Nanotech Energy raises $64M for its Graphene-Organolyte Batteries

By Hope Hill |

Nanotech Energy, one of the globally renowned graphene manufacturers, has made it to the headlines for its announcement of a successful Series D funding round. The sole manufacturer of non-flammable, graphene batteries, Nanotech has declared that it has come up with USD 64 million in a Series D funding round at a post-Series D amount of USD 550 million.

As per reports, the funding round was led by the biggest financial services firm based in Taiwan, Fubon Financial Holding Co. This round apparently brings the total funding amount raised by Nanotech Energy, to USD 94.9 million so far. The company plans to deploy the funds for expanding their international presence, one of the acts of which includes the launch of its European headquarters in Amsterdam.

In addition, Nanotech also plans to use the funds to build a high-volume graphene battery manufacturing unit in Reno, Nevada, slated to be operational in late 2022 and lead to an influx of jobs in Greater Reno market. The company will also be increasing the capacity for silver nanowires, graphene-based conductive inks, EMI shielding, and adhesives at its factory at Chico, California.

Dr. Jack Kavanaugh, CEO & Co-founder, Nanotech Energy, has been quoted to state that the firm has spent over seven years on improving battery storage capacity and safety by creating new materials and will now be entering a new production phase at industry-level scale. The presence of an investor like Fubon, that embraces science, shares our vision, and recognizes the massive opportunities in the graphene market, is further beneficial for the company, he added.

About Nanotech Energy:

Nanotech Energy is one of the leading graphene manufacturers worldwide. In September 2020, the company had announced its achievement of having developed a process to manufacture 90% monolayer graphene – thereby becoming the first (and only) graphene producer to break the 50% content barrier. Further on, in March 2021, Nanotech 95% monolayer graphene and is likely to approach 98% monolayer graphene.



Source Credits:

https://www.technologyforyou.org/nanotech-energy-announces-64m-series-d-funding-to-scale-its-proprietary-non-flammable-high-performing-graphene-organolyte-batteries/

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