Samsung Ventures Investment Corporation has invested in the US graphene engineering company XG Sciences.
The lithium-ion giant is providing Michigan-based XG Sciences with investment as part of a funding round to further the company’s R&D efforts. The terms of the investment have not been disclosed.
The CEO of XG Sciences, Philip Rose, said the investment “represents another significant milestone in our progress towards commercialisation of large-scale graphene applications.”
There are a number of demonstration projects using XG Sciences’ advanced graphene and battery materials already in operation in the electronics industry. Rose said having Samsung as a partner will accelerate such demo projects to a commercial stage.
Rose added XG Sciences and Samsung SDI will work on a joint development programme aimed at next-generation batteries for consumer electronics and other devices.
This investement follows $1m in funding from the US Department of Energy for continued development of its XG SiG high-energy anode materials for lithium-ion batteries.