Zen Graphene Solutions logo imageZen Graphene Solutions has announced a non-brokered private placement financing to raise approximately CAD$1.0 million (around USD$754,300).

Zen stated that the proceeds of the offering will be used to fund ongoing work on the Albany Graphite Project including environmental studies, graphene research and development work, material processing and for general corporate purposes.

In May 2019, ZEN Graphene Solutions announced the signing of an initial agreement to in-license certain intellectual properties from a Canadian University that when combined with ZEN’s Albany Graphite, produces low cost, environmentally friendly graphene. Also in May 2019, Zen Graphene Solutions announced that it has been awarded a $1,000,000 CAD (around $742,600 USD) grant that will accelerate ZEN’s graphene-enhanced concrete research and development project.