Imagine IM (Imagine Intelligent Materials Pty Ltd), a developing graphene applications company based in Sydney, Australia, announced today that it has raised $2 million in new capital. Imagine IM is focused on developing conductive coatings and sensing technologies for industrial textiles.
The capital raising was led by one of Imagine IM’s existing shareholders, Sapsford Financial Services (SFS). SFS has the right to appoint a director to the board of Imagine IM.
The new capital will be used to accelerate optimization of the Company’s pilot Plant-In-A-Box (PIAB) in Geelong to meet the anticipated demand for its initial product offering, imgne® X3, and to establish an Applications Development team at the Company’s Sydney office.
“The development plan for PIAB will result in the Company being able to offer under license a turnkey graphene manufacturing, functionalization and masterbatch production capability. I believe this will be a major step forward towards making graphene a mainstream material and positioning Imagine IM as a significant participant in the global graphene applications industry with a primary focus on licensing. Our plan is to partner with third party manufacturing companies in major international markets and remain capital light while simultaneously closing solutions licensing agreements with industrial textiles companies globally”, said Chris Gilbey, CEO of Imagine IM. “This will continue to grow our vision of multiple revenue streams from the market verticals we enter”.
The first installation of imgne X3 treated Geofabrics bidim® is now planned to take place in April at a Coal Seam Gas site in Queensland. Its function is to enable the identification of holes that cause leaks in geosynthetic liners for dams. Imagine IM’s innovative approach to leak detection leads to improved ability to easily identify leaks and utilizes existing testing procedures and techniques.
