Update: the fund raising was successfully concluded, Graphene Nanochem raised $50 million and is now a public company

Biofutures (a publicly-traded UK company) is going to focus on low-cost graphene production. It will change its name to Graphene Nanochem. Biofutures raised money at the UK AIM stock exchange and the market capitalisation is £162 million, but was suspended from trade in December 2012.

Graphene Nanochem holds the exclusive license to a process known as Catalyx which uses a catalyst to extract graphene from biogases (such as methane). This process can potentially mean low-cost graphene production.

The company holds a Malaysian biofuels specialst (called Platinum Nanochem) and they are also going to develop graphene-enhanced lubricants for used in the extraction of shale gas.

The name change and new focus will be up for shareholder vote on March 25, and the company is expected to be re-listed on the AIM the following day.

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