HydroGraph Clean Power, a Canada-based company that was formed to fund and commercialize green, cost-effective processes to manufacture graphene, hydrogen and other strategic materials in bulk, has announced that it has closed a private placement for gross proceeds of CAD$6,505,000 (over USD$5,372,000) led by PowerOne Capital Markets Limited and Haywood Securities. HydroGraph is in the process of pursuing a direct listing on the Canadian Securities Exchange.
The proceeds of the Financing will enable HydroGraph to commercialize its patented hydrogen and graphene manufacturing technology and market the end products. The Company is building a new commercial manufacturing facility which will be able to mass-produce HydroGraph’s competitive, high quality, green products.
"We are thrilled with today's announcement as it advances our initiative to disrupt the hydrogen and graphene industries by giving the world a brand new, energy efficient, highly controllable process for creating valuable products, stated Harold Davidson, Chief Executive Officer of HydroGraph. We are grateful for the hard work and support of the many exceptional scientists and engineers at KSU, who have collectively scaled this innovative technology to a daily production of 2kg of high-grade graphene per canister per day using automated manufacturing processes, and the continued support of our strategic shareholders. The capital raised will allow us to further scale production towards commercialization. Our R&D efforts will continue at KSU, focused on synthesizing other valuable nanotechnology products, and further automation of our current production technologies."
The Company’s new commercial manufacturing facility will be located in Manhattan, KS in close proximity to the Company’s R&D facility at the KSU campus. HydroGraph is also in the process of establishing a Canadian R&D operation in London, ON. Canadian R&D operations will focus on using graphene for new battery technologies and supercapacitors, due to the exemplary electrical conductivity of graphene.