Sciences XG Sciences, a US manufacturer of energy storage materials based on the company’s graphene nanoplatelets and graphene sheet products, has raised an undisclosed amount of capital from Samsung Venture Investment Corporation, the venture capital arm of Samsung Group.
The company supplies global corporations serving energy storage, aerospace, automotive, industrial and consumer markets.
“Our investment in XG Sciences is consistent with our strategy to work closely with established market leaders,” said Michael Pachos, Senior Investment Manager at Samsung Ventures. “XGS is a technology leader and has built a significant business in the graphene and energy storage spaces. The company has demonstrated both a technical and business vision in driving adoption of graphene across a wide variety of industries, and we look forward to contributing to the progress of XG Sciences.”
A number of applications for the company’s advanced graphene and battery materials have been demonstrated in the electronics industry, and a partner like Samsung could help move these applications to market faster than the company could do on its own.
The company is formalising its development work with Samsung SDI in a joint development programme aimed at next-generation batteries for consumer electronics and other devices.