University spin-out Applied Graphene Materials is set to join London’s Alternative Investment Market (AIM) to raise new capital.
The business, which was spun out of Durham University in 2010 and is part-owned by IP Group, developed a process for the manufacture of high specification graphene.
The proceeds from its listing will go towards increasing its production and speeding up commercialisation with blue chip customers.
Jon Mabbitt, CEO of Applied Graphene Materials, says that the worldwide need for graphene is growing at a ‘rapid pace’.
‘We have seen considerable interest from blue-chip businesses which have recognised the advantages of our production process, enabling us to continuously produce grapheme cost effectively on a commercial scale,’ he adds.
‘Admission to AIM will provide the company with the funding for its next phase of development and build our position as a global grapheme manufacturer.’
More on deals by IP Group:
- Magnomatics gets IP Group and Fusion IP as backers
- Spin-out business Glythera secures IP Group support
- Fund backs two North East businesses
The materials business cites predictions for total graphene demand, which points towards a tenfold increase from 40 tonnes a year to 400 tonnes by 2017 and growth in market from $195 million by 2018 to $1.3 billion in 2023, as evidence of the opportunity.
The move to join the junior exchange is not the first time this year that a graphene company has secured admission. In March, Graphene Nanochem closed a reverse takeover of Biofutures International.
Alongside IP Group’s 22.1 per cent stakeholding, the Finance for Business North East Technology Fund holds a 21.7 per cent interest.
