First Graphene has announced the completion of a placement to raise $3.5 million AUD (around $2.5 Million USD).
The raised funds will be used for general working capital purposes and to advance the Company’s facility at the Graphene Engineering Innovation Centre at the University of Manchester. Additionally, an increasing effort will be made to expand the sales and marketing functions of the Company.
The company is also waiting to register PureGRAPH for sale in Australia. This is expected to happen by next month. The company can then start selling PureGRAPH to a number of WA based customers. First Graphene has already received regulatory approval to sell graphene products into the UK and Europe.