Imagine Intelligent Materials, a developer of graphene applications company based in Australia, recently announced that it has raised $2 million AUD (around $1.5 USD) in private placement.
The new capital will be used to accelerate optimization of the Company’s pilot Plant-In-A-Box (PIAB) in Geelong to meet the anticipated demand for its initial product offering, imgne® X3, and to establish an Applications Development team at the Company’s Sydney office. Imagine stated that the first installation of imgne X3 treated Geofabrics bidim® is now planned to take place in April at a Coal Seam Gas site in Queensland. Its function is to enable the identification of holes that cause leaks in geosynthetic liners for dams. Imagine IM’s innovative approach to leak detection leads to improved ability to easily identify leaks and utilizes existing testing procedures and techniques.