NanoXplore reported its financial results for Q3 2022, with revenues of $27.1 million CAD (up 52% compared to last year). The company reported a loss (EBIDTA) of $1.97 million CAD (down from a loss of $3.7 million CAD last year).
Looking ahead into its FY2023 (which ends on September 2023) NanoXplore expects revenues to reach $110 million. The company also announced a 5-year strategic plan, during which the company will expand its production capacity from its current 4,000 tons to 20,000 tons for graphene and battery materials.
The expansion will require an investment of $170 million CAD, financed through cash at hand and grants, in addition to debt and equity, if needed.