What it does
PlanarTECH is a Cambridge company founded by Rice University alumnus Patrick Frantz.
The company, which has generated revenues of £5mln since inception, sells, installs and supports the sophisticated equipment that generates single-layer graphene.
The cash will be used to support growth opportunities, particularly in Asia where demand for the product is growing strongly.
How it is doing
PlanarTECH (Holdings) Limited has entered two agreements for graphene face masks.
It first extended its marketing and distribution agreement with Thailand-based IDEATI, then signed with First Graphene Ltd (ASX:FGR) to test the use of PureGraph materials in anti-static coating for PPE purposes and expect a quick scale up to manufacturing of the face mask.
According to a report from market research firm QY Research, global mask revenue will grow to US$7.24bn in 2020 from US$2.86bn in 2019.
What the boss says: Ray Gibbs, chairman
“For successful growth of our business, planarTECH is seeking a graphene supply partner that can reliably deliver high-quality consistent products."
“We are very aware of First Graphene’s robust supply capability delivered globally from its Australian facility."
“Following on from significant trials utilising PureGRAPH materials and we are excited about this collaboration to meet the rapid growth in demand for face masks and other PPE products.”
In July he told Proactive sales of the graphene face masks have been very good and they've been 'snowed-under' with orders and commitments for over 150,000 masks.
- In the process of raising £350,000 through a funding round on the Seedrs platform
- Graphene masks sales progress