Nanotech Energy, the world’s top supplier of graphene, on Monday announced the official close of its Series C Preferred Round of funding. According to the update, this participation/funding round was expected to close at $25 million, yet included a “shoe” to allow for an additional $2.5 million for a total of $27.5 million invested. Following board of directors’ approval, the funding was expanded to accommodate the oversubscription. The post-money valuation of this round was $227.5 million. “This round of funding – with such high-level and committed investors – validates the need the international market has for our proprietary battery technology,” Dr. Jack Kavanaugh, chairman and CEO of Nanotech Energy Inc., stated in the news release. “We are confident that we have a one-of-a-kind, industry-changing product that will impact the technologies and bottom lines of multiple end-user markets. This round of funding allows us to dramatically expand our production of graphene batteries, as well as our production of conductive epoxies, conductive inks and electromagnetic interference shielding spray paints and films. This will also facilitate our efforts to further increase our large-scale manufacturing of high-quality graphene that we provide for use in downstream applications.”
To view the full press release, visit http://nnw.fm/lI9va
About Nanotech Energy Inc.
Headquartered in Los Angeles, Nanotech Energy Inc. was founded in 2014 by Jack Kavanaugh, who serves as the chairman and CEO, along with leading UCLA scientists Dr. Richard Kaner and Dr. Maher El-Kady. With its mission to bring graphene-based energy storage from the research laboratory to the marketplace, Nanotech Energy offers graphene products that have the potential to revolutionize our lives with applications in batteries, transparent conducting electrodes, conductive inks, printed electronics, conductive epoxy, antistatic coatings and EMI (electromagnetic interference) shielding. For more information, visit the company’s website at www.NanotechEnergy.com.
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