Black Swan Graphene partner Concretene secures funds to advance graphene-enhanced concrete
Published: 08:42 17 Oct 2024 EDT
Black Swan Graphene (TSX-V:SWAN) announced that Concretene, its UK-based concrete partner, has secured £3 million (C$5.4 million) in financing, co-led by Molten Ventures and LocalGlobe.
The company said that this funding will help advance Concretene's graphene-enhanced concrete admixture, which reduces the carbon footprint of concrete by improving its strength and reducing the need for cement, a major source of CO2 emissions.
The financing aims to help the company achieve product certification and commercialization.
Concretene chief operating officer Mike Harrison welcomed Molten Ventures and LocalGlobe to the company’s mission to decarbonize concrete.
"Our team in Manchester has a unique combination of expertise and experience across construction and nanomaterial science, which will enable us to deliver our next stage of development and earn industry confidence and certification,” Harrison said.
“With the support of our funders and strategic partners, Arup and Black Swan Graphene (TSX-V:SWAN), we're now well-placed to move forward rapidly to commercialization."
George Chalmers, Head of Climate at Molten Ventures, added: "Concretene has made tremendous strides in getting its technology out of the lab and into meaningful real-world projects and applications.”
“Its solution, viable today, is poised to make a meaningful impact in reducing emissions in one of the hardest-to-abate sectors,” he said. "We are delighted to support Concretene's world-class team of scientists and operators in scaling its solution across the industry.”
Black Swan is dedicated to the large-scale production and commercialization of patented, high-performance, low-cost graphene products designed for various industrial sectors, such as concrete, polymers, and Li-ion batteries, all of which are anticipated to need significant amounts of graphene.
In March, Black Swan, Concretene, and Arup Group announced strategic partnerships to create a fully integrated supply chain and deliver a comprehensive solution for the construction and concrete industries.
