A STIRLING-based nanomaterial company has been awarded £8.8m in funding to help accelerate its growth.
iGii, formerly Integrated Graphene, will use the money to increase its manufacturing capacity, expand its facilities to create local, skilled jobs, and explore further use of patented materials.
Of the total, £4m comes from the Scottish National Investment Bank (the Bank), with the other £4.8m from early investors, Archangel Investors and Par Equity.
The funding follows growing demand for iGii’s nanomaterial, Gii™, a 3D foam made from carbon atoms that can detect illnesses like cancers and heart failure.
Gii™ is produced with low energy and minimal waste, making it more cost-effective than traditional materials like gold.
The new investment will also help improve other areas like water and food quality sensors, agricultural sensors, and battery storage.
Jean-Christophe Granier, CEO, said: “This additional funding will enable us to accelerate ongoing customer projects and invest in our reel-to-reel manufacturing capabilities to deliver commercial quantities of Gii™ worldwide for our customers.
“We are thrilled the Scottish National Investment Bank is supporting our ambitious growth plans and helping us export true Scottish innovation to the world.
“Together with our existing investors, we are transforming customers’ product performance and delivering life-changing benefits for people and our planet.”
Alastair McMillen, associate director, sustainable investment at the Bank, said: “We are excited by the growth and impact potential of iGii, and we are pleased to be invested in the company’s future, which includes scaling its products for a global market and bringing more skilled jobs to Stirling.
“The company’s patented technology exemplifies cutting-edge advancements in nanomaterials and aligns with our mission to drive innovation, helping to grow our economy and make it more competitive.”
