- Nanomaterial producer iGii secures £8.8 million funding to boost production
- iGii develops Gii™, a 3D foam made from carbon atoms with properties of graphene
- Gii-Sens™ used in new battery-free sensor for testing lactic acid in athletes
- Funding led by Scottish National Investment Bank and existing shareholders
- Cash injection to scale manufacturing of Gii-Sens™ for diagnostic sensors, with plans for other applications
Boosting Nanomaterial Production with iGii’s £8.8M Funding
Nanomaterial producer iGii has recently secured a substantial £8.8 million in funding to propel the production of nanomaterials to new heights. This funding injection aims to accelerate the growth of iGii, a company based in Stirling that has been making waves in the industry. Formerly known as Integrated Graphene, iGii has developed a groundbreaking product called Gii™, a 3D foam crafted from carbon atoms. This innovative material combines the highly sought-after physical properties of graphene, including sensitivity, flexibility, and conductivity, while circumventing the challenges typically associated with scaling up and mass application.
Revolutionizing Nanomaterial Production
Gii is manufactured using a proven low-energy and chemical-free process, resulting in minimal waste production. This not only makes the manufacturing process more environmentally friendly but also renders the material more cost-effective compared to traditional sensing materials like gold. The revolutionary nature of Gii has been further highlighted by its application in the development of Gii-Sens™, a cutting-edge sensor used by scientists at the University of Bath to create a battery-free sensor for testing lactic acid levels in athletes. This breakthrough opens doors to the possibility of user-friendly sensors that can be deployed in remote locations, such as athletics tracks, without the need for electricity-powered sensing equipment.
Expanding Opportunities in Healthcare and Beyond
Jean-Christophe Granier, the Chief Executive Officer at iGii, expressed the company’s commitment to introducing the transformative Gii™ technology to various markets, with a particular focus on the healthcare sector. The additional funding secured by iGii will play a vital role in expediting ongoing customer projects and bolstering the company’s reel-to-reel manufacturing capabilities. This strategic move is geared towards ensuring the global delivery of commercial quantities of Gii™ to cater to the needs of their customers across different industries.
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Driving Innovation and Growth
The funding round that propelled iGii’s nanomaterial production boost was spearheaded by a £4 million investment from the Scottish National Investment Bank (the Bank). Additional financial support amounting to £4.8 million was contributed by existing iGii shareholders, Archangel Investors and Par Equity. Alastair McMillen, the Associate Director of Sustainable Investment at the Bank, emphasized how iGii’s patented technology epitomizes cutting-edge advancements in nanomaterials, aligning perfectly with the bank’s mission to foster innovation and enhance economic competitiveness.
Niki McKenzie, Joint Managing Director for Archangels, lauded iGii as an ambitious Scottish tech company with immense global potential. The company’s focus on scaling up manufacturing capabilities and the successful securing of funding positions iGii to realize its growth aspirations. The injection of funds will not only aid iGii in expanding the production of Gii-Sens™ for point-of-care diagnostic sensors but will also facilitate further research and development into enhancing the performance of Gii™ for applications in water and food quality sensors, agricultural sensors, and battery storage.
IGii’s recent funding success marks a significant milestone in the realm of nanomaterial production. With a strong focus on innovation, sustainability, and market expansion, iGii is poised to revolutionize the industry and drive growth through the widespread adoption of its cutting-edge nanomaterial technology.
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