SiNode Systems, a Chicago-based developer of advanced materials out of Northwestern, and JNC Corporation, a Tokyo-based speciality chemical manufacturer, announced the formation of NanoGraf Corporation, a joint venture focused on commercializing materials for the Lithium-ion battery industry. NanoGraf Corporation launches with $4.5 million and plans to expand commercial production and continue the development of additional materials platforms.
NanoGraf’s technology enhances the performance of battery materials via a proprietary graphene-wrapped silicon anode and can improve battery energy density by 50%.
Ashok Rao, Board Member of both SiNode and the GOOSE Society, was an integral part of the negotiations. GOOSE invested in SiNode Systems after the company won the grand prize at the 2013 Rice Business Plan Competition in Houston, TX.
See NanoGraf’s media page for the full press release.