XG Sciences secures financing from The Dow Chemical Company

Jan 05, 2017

XG Sciences, a supplier of graphene nanoplatelets and value-added products containing graphene nanoplatelets, recently announced that it has closed an agreement with The Dow Chemical Company for up to a $10 million senior credit facility, which may be drawn down in tranches by XGS at its discretion through December 2019.

The company received $2 million under this facility at close and may draw another $3 million at its discretion at any time prior to the first anniversary of the agreement. After the first anniversary of the closing, the company may access the remaining $5 million, provided it has raised at least $10 million of additional equity capital. XG Sciences and Dow agreed to hold commercial discussions including the potential out-license of certain of Dow’s manufacturing IP related to graphene nanoplatelets to XGS.

XG Sciences sees commercial graphene-enhanced batteries on the market by 2017

Jul 07, 2016

I recently had an interesting talk with XG Sciences' Sr. Director of Business Development, Dr. Percy Chinoy. Percy updated on XGS' technology and business. Among several other applications of graphene, XGS has been collaborating with battery developers and their supply chain partners for a few years.

XGS is involved in three battery-related applications: silicon-graphene electrodes, and graphene additives in Li-Ion battery and Lead-acid battery electrodes. As a supplier, XGS has to work with the product schedules of other companies - but XGS is positive that we will see these products being launched in 2017.

XG Sciences receives DOE grant for silicon-graphene anode technology

Jun 01, 2016

XG Sciences has received a DOE Round 2 small business award for $150,000, which it will use to support its efforts to develop low-cost manufacturing of a silicon-graphene composite anode. According to the company, one goal for the new anode type is to reduce the formation of the solid electrolyte interface (SEI).

The SEI layer is a film composed of electrolyte reduction products that start forming on the surface of the anode during the initial battery charge. It functions as an ionic conductor that enables lithium to migrate through the film during charging and discharging – allowing the battery to operate in an efficient and reversible manner. Under typical operating conditions, it also serves as an electronic insulator that prevents further electrolyte reduction on the anode. However, as the silicon in next-generation anodes expands and contracts, it essentially cracks apart that layer and then makes more. Over time it ends up with a very thick resistive film on the anode, which causes it to lose both capacity and power.

XG Sciences plans $24 million IPO

Apr 04, 2016

XG Sciences aims to raise $24 million through an initial public offering to fund operations, as it continues to commercialize composite materials for lithium-ion batteries and other applications. Of the $24 million XGS hopes to raise through an IPO, $11.4 million will go to fund operations for the next two years, “by which time the company might begin generating positive cash flow from operations.” Proceeds from the IPO would also go to working capital, and to increase capacity and its sales and technical service staff.

While the company has accumulated operating losses exceeding $43 million during its development stage, the securities filing cites a growing customer list and order volume. XG Sciences projects 2016 revenues of $5 million to $10 million through the sale of graphene and graphene nanoplatelets for electronic and industrial products that use lithium-ion batteries. A number of companies are currently testing XG Sciences’ materials for applications including lithium-ion batteries, supercapacitors, thermal shielding, inks and coatings, printed electronics, construction products, composites and military uses.

XG Sciences and Boston-Power collaborate to develop batteries with silicon-graphene anodes

Dec 10, 2015

XG Sciences logoXG Sciences and Boston-Power have announced a joint development agreement, aimed at customizing XG Sciences’ silicon-graphene anode materials for use in Boston-Power’s lithium-ion battery products. 

The plan is to optimize electrochemical and microstructural electrode performance, as well as developing electrode and battery manufacturing techniques using the two companies’ proprietary materials. The companies see a real synergy between Boston-Power’s battery engineering and design capabilities and the new XG-SiG anode materials. Boston-Power has the ability to design and manufacture the battery, while XG Sciences has the ability to customize the anode materials to best fit the Boston-Power system.

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