Funding Battle Heats Up for World’s Strongest Material
- Two British graphene companies unveil plans to raise millions
- Applied Graphene, Haydale tap investors through share sales
A pure carbon film one atom thick, graphene is 200 times stronger than steel and 70 times more conductive than silicon.
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The global race to exploit the potential of the strongest known material, a substance called graphene, just intensified as two British manufacturers unveiled competing plans to raise funds to bring their products to market.
Applied Graphene Materials Plc raised about 9 million pounds ($12 million) from a placement of shares with existing investors, while Haydale Graphene Industries Plc is looking for 6 million pounds, the U.K.-based companies said Tuesday in separate statements.