In March 2016 we posted that Pacific American Coal (PAK) will take a controlling interest in Imagine Intelligent Materials, the Australian developer of graphene-based coatings for industrial textiles and fibers.

PAK announced that the company has now completed the acquisition of a 20% stake in Imagine IM. PAK raised $1.6 million (before costs) which will be used to fund the first phase of the Imagine acquisition. PAK is scheduled to acquire another 20% from Imagine IM’s existing shareholders by 30th June 2016.

Imagine IM intends to build Australia’s first commercial graphene manufacturing plant in the foreseeable future with a focus on geosynthetics. The pilot plant will have an output capacity of up to 10 tonnes per year of graphene. Imagine IM plans to use two tonnes of the graphene output in the first year of operation for products aimed at customers in Australian manufacturing.