Nanotech Energy Announces $64M Series D Funding to Scale Its Proprietary Non-flammable, High-Performing Graphene-Organolyte™ Batteries
Graphene pioneer will use investment to develop a high volume, manufacturing facility to produce non-flammable Graphene-Organolyte batteries as well as conductive inks, conductive adhesives and silver nanowires
10 Aug, 2021, 03:05 ET
LOS ANGELES, Aug. 10, 2021 /PRNewswire/ -- Nanotech Energy, the world's leading manufacturer of graphene and the only producer of non-flammable, graphene-based batteries on the market, today announced it has raised $64 million Series D funding at a $550 million post-Series D valuation. 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. Nanotech Energy will utilize the new funds 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. The manufacturing facility is expected to open in late 2022 and will initially bring hundreds of jobs to 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. View a short video about Nanotech Energy here.
"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."
Energy storage will become ubiquitous in its application as the world moves towards electric and away from fossil fuels. Nanotech Energy is enabling a future that realizes the potential of graphene and other technologies to create real-world benefits, from helping develop more cost-efficient, environmentally-friendly personal electronic devices to creating a more efficient way to harness renewable energy.
In addition to being the world's only current producer of high-performance non-flammable batteries, Nanotech Energy has solved one of the most significant challenges hindering graphene's potential: manufacturing the purest graphene on a mass-production scale. In September 2020, Nanotech Energy announced the groundbreaking achievement of developing a process to produce 90% monolayer graphene, making it 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% (confirmed by AFM, TEM, SEM and XRD techniques). Nanotech Energy's patented, scalable process and graphene products have the potential to transform the world we live in — paving the way to make the wonders of graphene a reality. Applications include batteries (electric vehicles and consumer electronics), transparent conducting electrodes, conductive inks, printed electronics, conductive epoxy, antistatic coatings and EMI (electromagnetic interference) shielding.
"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.
Changes in battery chemistry are generational, and Nanotech Energy's batteries are poised to usher in the Fourth Industrial Revolution. 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."
For more information about Nanotech Energy, please visit https://www.nanotechenergy.com.
About Fubon Financial Group
Listed on the Taipei Stock Exchange, Fubon Financial Holding is the largest financial services company in Taiwan in terms of market capitalization and second largest in terms of assets. The company has a market capitalization of $37 billion and assets of $360 billion, with operations in Taiwan, Hong Kong, mainland China, South Korea, Vietnam, Malaysia, Thailand and the Philippines. Visit: https://www.fubon.com/financialholdings/en/home/index.html.
About Nanotech Energy
Nanotech Energy is on a mission to bring transformative, graphene-based, energy storage products from the research lab to the mass market. Our very high surface area, single layer graphene material is already being used in multiple applications, including non-flammable batteries, transparent conducting electrodes, conductive inks, printed electronics, conductive epoxy, antistatic coatings and EMI (electromagnetic interference) shielding. Founded in 2014 by Dr. Jack Kavanaugh and noted UCLA scientists Dr. Richard Kaner and Dr. Maher El-Kady, Nanotech Energy is headquartered in Los Angeles and is a privately held company backed by Multiverse Investment Fund and other strategic investors. Follow us on LinkedIn or learn more at https://nanotechenergy.com.
All trademarks contained herein are the property of their respective owners.
SOURCE Nanotech Energy Inc.
Share this article