Applied Graphene Materials recently reported its intentions of raising capital to scale up its production facilities in a share sale. Now, the company confirmed raising of about £8.5m from a shares sale, which should help increase production.
Company representatives added that the fundraising followed a year of good progress, which included collaborations with international partners, and that its main focus remains on driving forward opportunities to win orders and become a leading graphene provider.
In September 2015, AGM stated that its performance in the 2015 financial year (which ended on July 31) was slightly ahead of company expectations. Also, in August 2015, the company joined a collaborative Innovate UK project called Project Graphted that aims at evaluating Graphene’s potential as a transparent electrode when dispersed in a polymeric matrix.