Advanced materials group Haydale Graphene recently raised £450,000 (around $580,000 USD) following the issue of new shares.
Haydale said the funds will be used for general working capital purposes. Haydale also noted that it had approximately £2.47m of cash as of 31 October.
Chairman David Banks said: "We are pleased to have received such strong support from two of our existing shareholders who truly believe in the progress Haydale is making on its commercialization journey... The additional funds from the subscription enable our executive team to move forward with additional confidence."