Australia-based Talga Resources managed to raise $5.5 million AUD (around $4.2 million USD) in a discounted placement. These funds are aimed toward helping the company with its Swedish graphite projects and building a graphene demonstration plant in Germany.
The company states that this capital would strengthen its balance sheet and add depth to its register, in addition to accelerating and expanding opportunities to commercialize graphene through strategic relationships with industry.
Talga's German graphene demonstration plant is expected to cost $1 million to set up and produce 100-200 tonnes of graphene a year. The company claims that the proposed plant would be the first in the world to commercially demonstrate true direct ore-to-graphene process technology capable of delivering industrial volumes for customer samples and sale.