Los Angeles-based Nanotech Energy has announced the official close of its Series C round of funding. This round was expected to close at $25 million, yet included an option to allow for an additional $2.5 million for a total of $27.5 million invested.
“This round of funding – with such high-level and committed investors – validates the need the international market has for our proprietary battery technology,” said Dr. Jack Kavanaugh, chairman and CEO of Nanotech Energy Inc. “We are confident that we have a one-of-a-kind, industry-changing product that will impact the technologies and bottom lines of multiple end-user markets. This round of funding allows us to dramatically expand our production of graphene batteries, as well as our production of conductive epoxies, conductive inks and electromagnetic interference shielding spray paints and films. This will also facilitate our efforts to further increase our large-scale manufacturing of high-quality graphene that we provide for use in downstream applications.”