Graphene Energy raises $500,000 seed investment

12 January 2009

Graphene Energy has raised $500,000 seed investment from venture capital investors Quercus Trust and 21 Ventures. In addition, it also concluded licensing terms for graphene-based Ultracapacitor Technology from the University of Texas and The College of William and Mary in Virginia.

The company is now in the process of qualifying graphene-derived electrodes and production processes.

‘We are very excited to have this opportunity to commercialise the Graphene-based Ultracapacitor technology to address the ever growing needs for energy storage, in particular, in applications with the need for high power densities,’ said Dr Dileep Agnihotri, CEO of Graphene Energy, ‘and I am very happy to have Quercus Trust and 21Ventures as investment partners. They have been very supportive of early stage, disruptive and clean technologies.’

David Anthony, managing partner at 21 Ventures, said, ‘Graphene Energy, with an exciting technology for addressing energy storage needs, particularly for high power density requirements and enabling new applications of energy storage, is an exciting addition to our portfolio. Demand for energy storage is growing tremendously and the graphene-based Ultracapacitor technology is ready to make its contribution. It is also an excellent fit in our portfolio of cleanTech companies.’

Copyright © 2009 newnet

Tags: energy storage, venture capital

This story was published on Monday, January 12th, 2009 at 3:47 pm and is filed under North America, energy storage, funds. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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