Grafoid announced today that they completed a new funding round from private investors, raising just over $3.5 million USD. Earlier in 2013 the company raised a further $1.5 million, which means the company raised over $5 million USD since the beginning of 2013.
The company says that this financing round brings them a step closer to the consruction of their MesoGraf production facilities. Mesograf is Grafoid's graphene-based material announced two months ago. Grafoid collaborates with the National University of Singapore (NUS) and their new spin-off company Graphite Zero on the production, development and marketing of this material.
Graphite Zero uses Focus Graphite's high quality graphite to produce graphene (but they say that any graphite with a quality grade of 10% of higher is suitable for the process). Grafoid says that independent tests confirmed that MesoGraf materials are of high quality and have high energy density and unique physical characteristics.