Angstron Materials Inc. has secured $5 million in capital to boost its manufacturing capacity, the company said in a release this week.
The Dayton-based company will use the investment to make more single and few-layer graphene materials and bring more products — such as its thermal management products — to market.
Angstron began seeking “pre-series A” investment funding in late 2014. The investor, which Angstron did not name, “brings extensive business and industry expertise to the table along with a portfolio of major customers and collaborators,” the company said in its statement.
“The capital will allow us to expand our business and product development teams to fast track commercialization of critical products such as our thermal management materials,” Ian Fuller, Angstron’s vice president for business development and engineering, said in the statement.
The company is seeking further investments.
“We are also actively engaged in securing series A funding which we expect to close by the end of the year,” Fuller added. “These two rounds of financing will boost our global reach for a wide range of our graphene technologies and materials.”
Based on McCook Avenue since 2008, Angstron says it is the world’s largest producer of graphene, a light material designed to conduct heat and electricity.
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