£8.8M Investment Fuels iGii’s Nanomaterial Production Expansion

Nanomaterial producer iGii, formerly known as Integrated Graphene, has successfully raised £8.8 million in new funding to accelerate its growth and expand its market presence. Based in Stirling, Scotland, the company has pioneered the development of Gii™, a unique 3D foam made from carbon atoms that combines the desirable properties of graphene with enhanced scalability and cost-effectiveness. This funding marks a significant step forward for iGii, positioning it to bring its innovative technology to various markets, particularly healthcare, while scaling up its production capabilities.

Gii™ is a 3D foam material composed of carbon atoms, offering several key benefits over traditional graphene and other sensing materials. Graphene, known for its sensitivity, flexibility, and conductivity, has faced challenges in scaling up for mass applications. In contrast, Gii™ retains these advantageous properties without the associated difficulties of scaling up graphene production. This innovation stems from iGii's proprietary low-energy, chemical-free manufacturing process, which produces minimal waste and makes Gii™ more cost-effective than traditional sensing materials like gold.

One of the notable applications of Gii™ is in the form of Gii-Sens™, a sensor platform that leverages the material's unique properties. Gii-Sens™ has been utilized by scientists at the University of Bath to create a battery-free sensor for testing lactic acid levels in athletes. This development highlights the material's potential for creating easy-to-use, portable sensors that can operate in remote locations without relying on electricity-powered equipment.

iGii's strategic focus is on bringing Gii™ technology to markets with significant and immediate opportunities, particularly in the healthcare sector. The company envisions a range of applications for its material, from medical diagnostics to wearable health monitoring devices. The healthcare industry's demand for sensitive, flexible, and cost-effective sensing materials aligns well with the capabilities of Gii™, making it an ideal market for iGii's technology.

Jean-Christophe Granier, Chief Executive Officer of iGii, expressed confidence in the company's direction, emphasizing the potential of Gii™ to revolutionize various industries. The additional funding will enable iGii to accelerate ongoing customer projects and invest in reel-to-reel manufacturing capabilities, ensuring the delivery of commercial quantities of Gii™ worldwide. This investment is crucial for scaling up production and meeting the growing demand from customers across different sectors.

The recent funding round was led by a £4 million injection from the Scottish National Investment Bank, demonstrating strong institutional support for iGii's innovative technology and growth potential. The remaining £4.8 million came from existing iGii shareholders, including Archangel Investors and Par Equity, both of which first invested in the company in 2020. This continued investment from existing shareholders underscores their confidence in iGii's business model and future prospects.

The total funding of £8.8 million will be instrumental in driving several key initiatives for iGii. Firstly, it will support the acceleration of ongoing customer projects, allowing the company to bring its technology to market more quickly. Secondly, the investment will fund the expansion of iGii's manufacturing capabilities, specifically through the development of reel-to-reel production processes. This enhancement is critical for scaling up the production of Gii™ to meet global demand and ensure the material is available in commercial quantities.

The successful funding round and subsequent expansion of iGii's capabilities position the company for significant growth and impact in the nanomaterials and healthcare sectors. With the unique properties of Gii™, iGii has the potential to revolutionize how sensors and other devices are designed and manufactured, offering cost-effective and scalable solutions to industries that rely on advanced materials.

In the healthcare sector, Gii™ can enable the development of innovative diagnostic tools and wearable health monitoring devices that provide real-time, accurate data without the need for expensive and complex equipment. This can lead to improved patient outcomes, more efficient healthcare delivery, and increased accessibility to advanced medical technologies in remote or underserved areas.

Beyond healthcare, Gii™ has potential applications in various other industries, including environmental monitoring, electronics, and energy storage. The material's sensitivity, flexibility, and conductivity make it suitable for a wide range of uses, from detecting pollutants in the environment to enhancing the performance of electronic devices and batteries.

iGii's recent £8.8 million funding round marks a pivotal moment in the company's journey, enabling it to accelerate growth, expand manufacturing capabilities, and bring its groundbreaking Gii™ technology to market. The unique properties of Gii™ position it as a game-changer in the nanomaterials industry, with significant potential to revolutionize healthcare and other sectors. As iGii continues to innovate and scale up production, it is poised to make a substantial impact on industries that rely on advanced materials, driving progress and creating new opportunities for technological advancement.