Grolltex Graphene Closes Oversubscribed Private Placement Financing Round

Share Article

Recent funding round will be used to increase graphene biosensor and other capacity.

"Switching graphene sensor designs from silicon to plastic creates cost savings of 100x or more", Jeff Draa, CEO, Grolltex

Grolltex, for ‘graphene-rolling-technologies’, the largest commercial producer of single layer, ‘electronics grade’ graphene and graphene sensing materials in the U.S., announces 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.

About Grolltex:

Grolltex, Inc., is a nanotechnology materials, products and equipment company focusing on the optimization and advancement of the key monolayer material ‘graphene’ and related 2D materials. The company holds a number of strategic patents and technological advantages in areas relating to the manufacture of high quality, monolayer ‘CVD’ graphene and hexagonal Boron Nitride as well as on several advanced products made of graphene and 2D materials, such as hyper efficient solar cells, next generation sensors, advanced fuel cells and futuristic super-thin and flexible sensors for use in wearables, smart phones and other electronics.

Grolltex is a practitioner of, and specializes in, exclusively sustainable graphene production methods and is committed to advancing the field of graphene to improve the future of leading-edge materials science and product design through the optimization of single atom thick materials.

For complete information, please visit: https://grolltex.com/

Media Contact:
Attn: Media Relations, Grolltex, Inc.
10085 Scripps Ranch Court, Suite D
San Diego, CA 92131
858-368-9065
support(at)grolltex(dot)com

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Jeffrey Draa
Grolltex, Inc.
+1 (858) 368-9065
Email >
@grolltex
Follow >
Grolltex
Like >
Visit website

Media