GraphEnergyTech, a spin-off of EPFL and the University of Cambridge, has completed the first close of its seed funding round with continued backing from Aramco Ventures, existing shareholders and new business angels, including investors from Canada. The company is targeting up to £3 million (about US$4 million) and says the round remains open to additional investors; it did not disclose how much has been raised so far.
The company develops highly conductive carbon- and graphene-based inks and pastes for use as metal-free electrodes. GraphEnergyTech says replacing precious metals such as gold and silver with carbon reduces dependence on volatile metal markets while maintaining electrode efficiency and durability. The technology builds on research by Michael Grätzel and the Cambridge Graphene Centre; the company describes Grätzel as a perovskite pioneer.
GraphEnergyTech’s technology and market expansion
GraphEnergyTech began with applications for solar panels and is expanding into fuel cells, heating technologies and printed electronics. The seed funding will be used to develop and scale up the technology, pursue industrial validation and accelerate commercialization, including collaborations with industrial partners internationally.
The seed round follows a £1 million pre-seed investment, also led by Aramco Ventures, and grants from Horizon Europe, Innovate UK and Innosuisse. CEO and co-founder Thomas Baumeler said he is grateful for the continued support of Aramco Ventures. Zayed Alamri of Aramco Ventures said he sees potential for the technology to support various industries and to reduce reliance on expensive metallic electrodes.
