Elcora Advanced Materials has announced that it has closed a second and final tranche of its non-brokered private placement, shortly after closing the the first tranche of its private placement, for gross proceeds of CAD$1,120,500 (around USD$898,362).
The Company declared gross proceeds of CAD$1,699,185.00 (around USD$1,363,000) for the second and final tranche.
Elcora Advanced Materials recently announced the closing of the first tranche of its private placement, for gross proceeds of CAD$1,120,500 (around USD$898,362). The Company may issue further Units to raise total gross proceeds of up to CAD$3,000,000 (around USD$2,370,000).
The Company intends to use the net proceeds for general working capital purposes. Elcora was founded in 2011 and has been structured to become a vertically integrated graphite & graphene company. Elcora processes, refines, and produces both graphite & graphene. As part of the vertical integration strategy Elcora is securing high-grade graphite and graphene precursor graphite from operations in Sri Lanka and other countries which are already in production. Elcora has developed a cost-effective process to make high-quality graphite, graphite products and graphene that are commercially scalable.
Elcora Advanced Materials has announced it has entered into a research and development agreement with Solargise Canada, a solar manufacturing and utility-scale power project development company.
The scope of work of the research and development agreement includes the development of new technologies using graphite and graphene to improve and augment the efficiency of the solar photovoltaic panels manufactured by Solargise.
Elcora Advanced Materials has announced that it has entered into a strategic relationship with Elephant Red Maple Leaves New Material Technology (Suzhou, China). The objective of this collaboration is to develop graphene coatings applications.
Elcora and its strategic partners are now pursuing the use of graphene in the coatings business for functional and production efficiencies for instance, by replacing or reducing toxic materials such as cuprous oxide and zinc. The partners will also further explore graphite powder anodes opportunities in Asia and develop graphene enhanced components for Lithium-ion batteries. Elephant Red has many industrial clients and a growing network of about 300 distributors in China.
International security and aerospace company Lockheed Martin will be working with Elcora Advanced Materials to develop graphene-enhanced lithium-ion batteries. The Companies stated that Elcora's graphene can "help the Li-ion batteries increase their storage of power without adding further cost".
Lockheed Martin mentioned that these batteries are being sought after for prolonging the lifespan of power charged in a wide range of devices, from the ubiquitous smartphones to electric cars. Lockheed will also be using them in the military vehicles that will be guided by their Autonomous Mobility Applique Systems (AMAS), or the ‘driverless military convoy’. Lockheed Martin is looking forward to completing the tests and fast-forwarding to deploying them for actual use in military campaigns.
Elcora Advanced Materials has announced the development of graphene-infused lithium-ion batteries for fast charge applications.
Elcora states that its expertise in graphene and lithium-ion battery technology will assist in this project, and that it is presently working with strategic partners (as well as in its in-house Lithium-Ion R&D Battery Lab) in development of applications.
Elcora Advanced Materials recently reported that it received $500,000 in non-repayable grants and $1,300,000 in Government Loans to assist with continued Lithium-Ion battery testing and development.
In addition to this amount, the Elcora announced that it has closed the non-brokered private placement financing announced in the beginning of the year.
Elcora Advanced Materials has announced a non-brokered private placement offering of up to 20,370,370 units at a price of $0.27 per Unit to raise aggregate gross proceeds of up to $5,500,000.
Elcora recently reported its first shipment of graphene from its 100% wholly owned subsidiary, Graphene Corp. and gave updates on the progress of its Graphene R&D Lab in Halifax, Nova Scotia.
Canada-based Elcora Advanced Materials has reported its first shipment of graphene from its 100% wholly owned subsidiary, Graphene Corp. The graphene material, produced from its Canadian plant in Bedford, Nova Scotia reportedly meets all the high-quality specifications as tested by the Centre for Advanced 2D Materials (CA2DM) at the National University of Singapore (NUS).
Elcora, through Graphene Corp., has developed processes to refine graphite with a much higher yield of graphene. This process can be used with a wide variety of graphite sources, therefore does not limit itself to specific raw material used. The Elcora technical personnel have also developed a unique low-cost and ecological process to make graphene that is commercially scalable.
Elcora Advanced Materials recently reported on the progress of its Graphene R&D Lab in Halifax, Nova Scotia. Construction of the graphene production facility commenced in February 2016 and the equipment is now in place and commissioning is reportedly on schedule.
According to the company, the lab will develop and optimize a small industrial-sized graphene production chain, as well as conduct graphene research in energy storage, coatings and printed electronics, developing commercial applications. The (approximately) 2000 sq ft size Lab is designed to provide secondary refining of the company's graphite from the Ragedara Mine in Sri Lanka as well as other graphite deposits, and to produce quality graphene for distribution and sale to other R&D organizations. In addition, it will also be used to conduct Elcora's own internal graphene application development, as part of the company's vertical integration plan.