NanoGraf Corporation Extends Series A To $5.5M to improve battery energy density by 50% for consumer electronics and electric vehicles
CHICAGO, IL (February 7, 2019) – NanoGraf Corporation, a Chicago-based developer of advanced materials raised an additional $1 million in Series A financing. The new investment comes from Hyde Park Angels and brings the total amount raised for the round to $5.5M. The initial investment came from JNC Corporation, a Tokyo-based specialty chemical manufacturer.
NanoGraf’s technology enhances the performance of Lithium-ion batteries via a proprietary graphene-wrapped silicon anode originally invented at Northwestern University. NanoGraf materials increase battery energy and power density by up to 50% and offer best-in-class cycle life.
“We are thrilled to have Hyde Park Angels join our investor syndicate,” said Samir Mayekar, NanoGraf co-founder and CEO. “By adding HPA member Greg Besio as a board observer, we gain an experienced executive from the consumer electronics industry to the team as we continue commercializing our novel materials platform.”
In 2018 NanoGraf launched a ton-scale production facility, signed multiple development agreements with top-tier consumer electronics manufacturers, and doubled the size of the team in sites across three countries. This year the company expects to continue its growth and complete product qualification in preparation for commercial launch in 2020.
About NanoGraf Corporation
Founded in 2012, NanoGraf Corporation (formerly SiNode Systems) is an advanced materials company developing silicon-graphene materials for the next generation of lithium-ion batteries. NanoGraf materials enable increased battery energy and power density, all while being produced via a low-cost, solution-chemistry-based manufacturing process. NanoGraf seeks to change the landscape for lithium-ion batteries so they can meet the demands of a wide range of industries, from consumer electronics to electric vehicles. For more information, visit www.nanograf.com
NanoGraf’s global office locations include:
Headquarters NanoGraf Plant
NanoGraf Corporation JNC Ichihara Research Center
3440 S. Dearborn St. #113N 5-1, Goikaigan
Chicago, IL 60616 USA Ichihara, Chiba 290-8551 Japan
c/o JNC Shanghai
Jianing International Building
500 Yan An Xi Road