Focus Graphite invests $1.38 million in Grafoid

Focus Graphite approved plans to invest $1.5 million CAD (about $1.38 million USD) in Grafoid. Focus Graphite also said that Grafoid recently closed a financing round with Blackwall Capital Markets and a “Friends and Family” private placement. In July 2013 Grafoid raised $3.5 million and I’m not sure if that’s the Blackwall deal Focus Graphite refers to.

Grafoid’s financing should bring them closer to the consruction of their MesoGraf production facilities. Mesograf is Grafoid’s graphene-based material announced two months ago. Grafoid collaborates with the National University of Singapore (NUS) and their new spin-off company Graphite Zero on the production, development and marketing of this material.