Group NanoXplore, a Montreal-based company specializing in the production and application of graphene and its derivative materials, has announced that it has raised $2.255 million CAD (around $1.64 USD) of equity financing. Participants in this financing raise included existing shareholders, notably Mason Graphite, as well as new Quebec-based investors.
This announcement follows the September 2016 announcement of closing a $28.8 million private placement by Mason, with around $1 million CAD that was to be used to increase Mason's equity in Group NanoXplore.
In September 2016, NanoXplore also announced that Sustainable Development Technology Canada (SDTC) will partner with the company to support the commercialization of lighter, more reliable and higher-efficiency components for electric motor systems using graphene-enhanced engineering plastics in place of metals.
Posted: Nov 09,2016 by Roni Peleg