UK-based Graphene Innovations Manchester (GIM) has entered into a deal for the commercial production of carbon fiber enriched with graphene in Saudi Arabia. Graphene Innovations Manchester has agreed to construct a factory in the Gulf state to manufacture the material for use in the kingdom's plans to build futurist eco-cities in the desert.
The factory will be built in Saudi Arabia with the backing of investors. Image from: BBC
Reports suggest that about £250 million could be invested in building a research and innovation hub in Greater Manchester as part of the deal and more than 1,000 jobs could be created.
Dr. Vivek Koncherry, GIM chief executive, said producing the material at scale had the potential "to change every aspect of our lives".
The deal between GIM and Saudi-based investors Organized Chaos to build the factory and see investment return to the UK was heralded by UK Prime Minister Sir Kier Starmer on a trip to the Gulf State.
The first machine constructing the material is already operational, with the factory expected to be up and running by the end of 2025, Dr. Koncherry said. He studied graphene as a student at the University of Manchester and was supported to set up his company by the university's National Graphene Institute. "My idea is to rapidly develop products that can solve global problems like climate change, water shortage, plastic pollution, because the world is facing so many challenges, we can't wait anymore."
His company plans to build the first factory producing graphene enriched carbon fiber in the UK by 2026, he said.
Professor James Baker at the university's Graphene Engineering Innovation Centre said the deal was a "significant development".
He said the commercialization of the material was evidence of a "tipping of new products and applications being developed for the market".