(Adnkronos) - SUNNY ISLES BEACH, Fla., July 12, 2022 /PRNewswire/ -- Nanotech Energy, the world's leading manufacturer of graphene and the only producer of non-flammable, graphene-based batteries on the market, is expanding its operations to Storey County, Nevada, east of Reno, with a new 517-acre, multiple building manufacturing facility
Nanotech Energy has already broken ground on the campus, which will include multiple buildings and a combined footprint in excess of one million square feet, in support of the company's exponential U.S. and international expansion. The new campus is anticipated to bring more than 1000 jobs to the region over the next five years, including a significant number of engineering and research positions. The first building is slated to open in Q4 2022 and they are currently taking battery pre-orders. They will begin limited production in 2023 with full production starting in 2024.
"Nanotech Energy's proprietary, graphene-based, nanotechnology overcomes the safety, limited storage capacity and recharge speed challenges of traditional lithium-ion batteries, and our new Northern Nevada facility will manufacture energy storage that will help power the world," said Nanotech Energy Chairman, CEO and co-founder, Dr. Jack Kavanaugh. "Nanotech Energy is the first and only producer to break the 50% content barrier by reaching 98% monolayer graphene, the wonder material that powers our products. We've already developed groundbreaking energy storage using technology that has the high capacity of a battery and the power performance of supercapacitors in a single solution."
Nanotech Energy recently announced $64 million Series D funding at a $550 million post-Series D valuation. The Series D funding led by Taiwan's largest financial services company, Fubon Financial Holding Co, and brought the total amount of funding raised to date by Nanotech Energy to $94.9 million.
"The expansion of Nanotech Energy to Northern Nevada is a potential game-changer that aligns closely with our energy and economic development initiatives, bringing a significant number of high paying, engineering jobs to our community," said Mike Kazmierski, President and CEO of EDAWN (The Economic Development Authority of Western Nevada). "The future of generations to come depends on technological advances that harness renewable energy and implementation in products that have the potential to impact and benefit countless aspects of our lives. Nanotech Energy is leading this charge and I couldn't be more excited to welcome them to Nevada. A special thanks to the Governor's Office of Economic Development for supporting this project."
Nanotech Energy is on a mission to bring transformative, graphene-based, energy storage products from the research lab to the mass market. Our very high surface area, single layer graphene material is already being used in multiple applications, including non-flammable batteries, transparent conducting electrodes, conductive inks, printed electronics, conductive epoxy, antistatic coatings and EMI (electromagnetic interference) shielding.
Founded in 2014 by Dr. Jack Kavanaugh and noted UCLA scientists Dr. Richard Kaner and Dr. Maher El-Kady, Nanotech Energy is headquartered in Florida and is a privately held company backed by Multiverse Investment Fund, Fubon Financial Group and other strategic investors. Learn more at https://nanotechenergy.com.
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