Insider Media, November 2013
Shares in University of Durham spin-out Applied Graphene Materials have been admitted to trading on AIM from today. The producer of speciality graphene materials numbers Northstar Ventures and IP Group among its backers.
AGM has raised £11m through a placing and floats with a market capitalisation of £26.2m.
The proceeds of the placing will be used to fund growth through investment in headcount, infrastructure and increased production capacity, as well as for collaboration projects.
AGM chairman Bryan Dobson said: “We are delighted with the investor response to the Placing which recognises Applied Graphene Materials’ proprietary, scalable manufacturing process and its associated intellectual property and know-how. Joining AIM marks a significant milestone for the group.”
Jon Mabbitt, AGM chief executive, added: “This funding will allow us to begin the next phase of development and to strengthen relationships with our partners.
“Applied Graphene Materials is now well positioned to meet the growing global appetite for graphene as a wonder material of the 21st Century.”