Samsung invests in graphene manufacturer XG Sciences; joint battery development initiative
31 January 2014
Graphene manufacturer XG Sciences, Inc. (XGS) closed on a strategic investment led by Samsung Ventures Investment Corporation (Samsung Ventures). Philip Rose, XG Sciences CEO, said the investment will be used to fund additional research and development of the company’s advanced materials. The terms of the investment were not disclosed.
XG Sciences manufactures energy storage materials based on the company’s xGnP graphene nanoplatelets and XG Leaf graphene sheet products. In April 2013, the company launched graphene-stabilized silicon anode materials for Li-ion batteries. The new anode material is produced through proprietary manufacturing processes and uses the company’s xGnP graphene nanoplatelets to stabilize silicon particles in a nano-engineered composite structure. (Earlier post.)
The investment from Samsung is a real honor for XG Sciences, and it represents another significant milestone in our progress toward commercialization of large-scale graphene applications. A number of applications for our advanced graphene and battery materials have been demonstrated in the electronics industry, and a partner like Samsung will help us move these applications to market faster than we could on our own. We look forward to formalizing our development work with Samsung SDI in a joint development program aimed at next-generation batteries for consumer electronics and other devices. Samsung’s shareholding will reinforce our leading position and help serve all our customers better.—Philip Rose
Samsung Venture Investment Corporation is the Venture Capital arm of the Samsung Group with offices in Seoul, Silicon Valley, Israel, London and Tokyo.
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