Grolltex (named for ‘graphene-rolling-technologies’) is the largest commercial producer of single layer, ‘electronics grade’ graphene and graphene sensing materials in the U.S. They have announced that it has closed a non-brokered, oversubscribed private placement financing, in the form of a convertible note, with local area private investors.
The gross proceeds of the private placement will be used for general working capital purposes and for increasing the capacity and quality testing capabilities of the company’s production facility in San Diego, California.
The company is focused on delivering inexpensive and enabling solutions to advanced nano-device and graphene sensor makers by fabricating the highest quality single layer graphene attainable, via chemical vapor deposition (or ‘CVD’).
The company is now capable of producing monolayer graphene sensors on large area plastic sheets at a cost of pennies per unit, in a high throughput and sustainable way. Further, Grolltex is helping customers that currently produce their graphene sensors on silicon wafers, to transition that production capacity to making their sensors on large area sheets of biodegradable plastic instead, at a >100X cost savings.
Monolayer graphene films are today seen as the most promising futuristic sensing materials for their combination of surface to volume ratio (the film is only one atom thick) and conductivity (the most conductive substance known at room temperature). Markets that are commercializing advanced sensors made of graphene include DNA sensing and editing, new drug discovery and wearable bio-monitors for glucose sensing and autonomous blood pressure monitoring via patches or watch-like wearable bracelet devices.
No securities were issued and no cash was paid as bonuses, finders’ fees, compensation or commissions in connection with the private placement.