Cientifica acquired a 24% stage in G Heat, a company that develops graphene-based infra-red heating units, which are are much more efficient than conventional heaters (up to 70% more so, according to G Heat).
To acquire the G Heat stake, Cientifica bought a private company called TEH Investment which owns the G Heat shares. TEH was owned by Tim Harper, Cientfica's founder and CEO and co-inventor of G Heat's infra-red technology. Cientifica acquired TEH in exchange for shares and plans to further invest £204,000 ($333,000 in G Heat via convertible unsecured load notes (this will increase their stake in G Heat to 45%).
Cientifica's has an exclusive agreement with London Graphene Ltd to develop technology using graphene for energy storage. The company also has an option to invest in Rainmaker Technologies, and recently signed an agreement with Perpetuus Carbon Group.
A few months ago it was reported that Cientifica wanted to raise around £300,000 - £400,000 of new equity capital, but due to difficult market conditions, this action failed.
