General Graphene secures major investment
An announcement this week was good news for a Knoxville area start-up.
“General Graphene is pleased to announce that we have received a funding commitment from Graphite India Limited for up to $18.595MM, to be paid over the next 18-24 months,” says Vig Sherrill, President and Chief Executive Officer of General Graphene.
According to an article citing Graphite India, the investment is for 46 percent of the start-up that we have spotlighted in several teknovation.biz articles.
The graphite electrode maker made the announcement in a stock-exchange disclosure (see article here). It will acquire the stake through its Netherlands-based wholly-owned subsidiary Graphite International BV.
The investment will be made in multiple tranches over two to three years based on the achievement of agreed milestones to commercially produce graphene sheets, a Graphite India statement said.
“General Graphene has combined its own proprietary technology with technology developed and exclusively licensed from ORNL for the mass production of high quality, large area, low cost, sheet-based graphene,” Sherrill told us. “Working with world class corporate partners representing a diverse array of industries, the company is poised to realize the long-awaited commercialization of graphene and expects to announce its full-scale production schedule within the next 12-18 months.”