Published August 16 2020
–via NetworkWire – Nanotech Energy Inc. (“Nanotech Energy” or the “Company”), the world’s top supplier of graphene, announces the official close of its Series C Preferred Round of funding.
This round of participation/funding was expected to close at $25 million, yet included a “shoe” to allow for an additional $2.5 million for a total of $27.5 million invested. The funding was expanded to accommodate the oversubscription, following board of directors’ approval. The post-money valuation of this round was $227.5 million.
“This round of funding – with such high-level and committed investors –validates the need the international market has for our proprietary battery technology,”said Dr. Jack Kavanaugh, chairman and CEO of Nanotech Energy Inc. “We are confident that we have a one-of-a-kind, industry-changing product that will impact the technologies and bottom lines of multiple end-user markets. This round of funding allows us to dramatically expand our production of graphene batteries, as well as our production of conductive epoxies, conductive inks and electromagnetic interference shielding spray paints and films. This will also facilitate our efforts to further increase our large-scale manufacturing of high-quality graphene that we provide for use in downstream applications.”
“Lithium-ion batteries have transformed the way society uses energy, yet there are a number of documented safety issues,”said Dr. Maher El-Kady, co-founder and Chief Technology Officer of Nanotech Energy. “We perfected the battery by utilizing the extraordinary electronic and mechanical properties of graphene to increase the battery capacity. To further increase the safety of a lithium ion battery, we took a step further by designing a non-flammable electrolyte that can withstand operation at high temperatures without catching fire.”
The funding news dovetails with the Company’s creation and production of non-flammable, lithium batteries with highest performance levels of other batteries. The Nanotech Energy Graphene Super Battery safely delivers efficient, fast charging and long-lasting battery power.
“Graphene is one of the strongest known materials, is completely flexible, and an excellent conductor of electricity – thus preventing the battery from overheating,”stated Dr. Richard Kaner, UCLA Distinguished Professor of Chemistry and of Materials Science and Engineering. “More importantly, graphene can withstand the volume changes of the battery electrodes during charge and discharge, reducing the chances of an internal short circuit; leading to a safer and more powerful battery.”
“Most industries and end users are confined to the technology of lithium-ion batteries, from smartphone and laptop manufacturers to automotive manufacturers to the consumer at large. They are limited to a battery technology that is well-known and documented to be dangerous – highly combustible and flammable,” continued Kavanaugh. “You have advanced and successful industries relying on a dangerous yet vital technology for decades. Nanotech Energy now offers all of these industries a path toward a safe and more powerful battery technology – a game changer for them.”