HydroGraph Clean Power Inc. Closes $6,505,000 Private Placement to Fund Commercialization of its Proprietary Hydrogen and Graphene
Vancouver, BC, May 13, 2021 /CNW/ – HydroGraph Clean Power Inc. (“HydroGraph” or the “Company”), is pleased to announce that it has closed a private placement for gross proceeds of $6,505,000 led by PowerOne Capital Markets Limited and Haywood Securities Inc. (the “Financing”). HydroGraph is in the process of pursuing a direct listing on the Canadian Securities Exchange.
HydroGraph is actively commercializing their proprietary and patented detonation process to manufacture the highest quality graphene, hydrogen and other strategic materials at the most competitive price points with the lowest environmental footprint within the hydrogen and graphene industries. HydroGraph is the owner of the worldwide exclusive license from Kansas State University (“KSU”) to produce valuable clean energy and nanotechnology products through their patented detonation process. This innovative production method produces the most consistent, high quality and cost-effective hydrogen and graphene available.
The proceeds of the Financing will enable HydroGraph to commercialize its patented hydrogen and graphene manufacturing technology and market the end products. The Company is building a new commercial manufacturing facility which will be able to mass-produce HydroGraph’s competitive, high quality, green products.
Hydrogen and graphene are expected to be two of the key materials in the global shift towards clean energy. Hydrogen could meet up to 24% of global energy need by 2050, representing an annual market size of $700 billion (Bloomberg). Graphene demand is growing rapidly at a 38% CAGR as its applications are expanded, expected to be a $2.8 billion market by 2027 (Fortune Business Insights).
“We are thrilled with today’s announcement as it advances our initiative to disrupt the hydrogen and graphene industries by giving the world a brand new, energy efficient, highly controllable process for creating valuable products,” stated Harold Davidson, Chief Executive Officer of HydroGraph. “We are grateful for the hard work and support of the many exceptional scientists and engineers at KSU, who have collectively scaled this innovative technology to a daily production of 2kg of high-grade graphene per canister per day using automated manufacturing processes and the continues support of our strategic shareholders. The capital raised will allow us to further scale production towards commercialization. Our R&D efforts will continue at KSU, focused on synthesizing other valuable nanotechnology products, and further automation of our current production technologies.”
The Company’s new commercial manufacturing facility will be located in Manhattan, KS in close proximity to the Company’s R&D facility at the KSU campus. HydroGraph is also in the process of establishing a Canadian R&D operation in London, ON. Canadian R&D operations will focus on using graphene for new battery technologies and supercapacitors, due to the exemplary electrical conductivity of graphene.