Novusterra, a US-based graphene producer has filed for an IPO at the NASDAQ. The company hopes to raise about $15 million in the public offering. If successful, the company's ticker will be NOVS.
For 2021, Novusterra reported zero revenue and a net loss of $308K for 2021. With the proceeds from the IPO the company plans to build a plant for its joint venture with American Resources Corp. to manufacture graphene using technology licensed from Ohio University. It also plans to fund joint ventures with or acquisitions of companies using alternative methods to produce graphene or graphene products, along with general corporate purposes.
Novusterra has sublicensed two patents focused on graphene production and roll to roll graphene production.