Versarien (www.versarien.com), the Cheltenham-based advanced-materials group, has raised £1.5 million to increase its graphene-manufacturing capabilities.
The company launched a campaign fundraiser comprised of the corporate investment management company WH Ireland, in conjunction with an offer through PrimaryBid to raise around £1 million at the beginning of this month. It will use the proceeds to purchase equipment for its graphene businesses and to provide working capital.
Per machinery-market.co.uk, “Chief executive Neill Ricketts (pictured) said: “In particular, we are delighted with the support we have received from private investors through PrimaryBid and to have the opportunity to increase the size of the fundraising to satisfy some of that demand.
“The funds raised will allow us to significantly scale up both our manufacturing capabilities and our marketing efforts, to take advantage of the substantial commercial opportunities we are seeing. Versarien is at the forefront of the commercialisation of graphene. The fundraising will allow us to market our recently launched graphene brand Nanene more widely — and increase the resources available to other graphene projects we are working on.”