G3 (Global Graphene Group), a holding company for subsidiaries Angstron Materials, Honeycomb Battery and Nanotek Instruments, announced that it has secured the first $10 million of a Preferred Series A investment from Western & Southern Financial Group, with conditions for a second close of an additional $13 million for a total $23 million Series A investment with Western & Southern as the sole investor.
G3 is engaged in commercializing graphene raw materials, and graphene-enabled applications including nanocomposites, thermal interface materials, and advanced batteries. G3 is headquartered in Dayton with operations in Asia.
The funding from Western & Southern will be used to renovate facilities and to acquire new production equipment. A new facility in Dayton is planned to produce graphene raw materials, thermal films, and graphene-enhanced nanocomposites. The current facilities in Dayton will be renovated with equipment to produce graphene-enabled high energy density battery electrodes and next generation lithium ion batteries in an expanded state-of-the-art dry room. By the end of 2016, G3 will be operating out of three buildings in Dayton, in addition to significant operations in Asia.