Monday, January 12, 2009

Graphene Energy Scores $500K

Graphene Energy Inc. announced Monday that it has raised some $500,000 in seed capital from The Quercus Trust and 21Ventures LLC. Graphene Energy also said it has reached terms with The University of Texas at Austin and The College of William and Mary in Williamsburg, Va., for licensing graphene-based ultracapacitor technology. Founded in December, Graphene Energy is nanotechnology firm focused on developing high-power energy storage devices. The Austin-based startup's technology utilizes sheets of ultraconductive carbon mesh called graphene. The company noted that it is in the process of qualifying its graphene-based ultracapacitor electrodes and graphene production processes for various associated components.