Riyadh - Sharikat Mubasher: Aramco Ventures, the venture capital arm of Aramco, led the first external equity funding round valued at £1 million for Frontier IP portfolio company GraphEnergyTech, according to a recent statement.

The investments will be utilized to accelerate the development and scale-up of GraphEnergyTech’s advanced high-conductivity graphene electrodes. 

Co-founded by Michael Grätzel, Andrea Ferrari, and Frontier IP, GraphEnergyTech uses its technology in solar cells where graphene can replace silver electrodes. Other applications for GraphEnergyTech’s technology include batteries, supercapacitors, LED lighting, and displays.

Thomas Baumeler, Chief Executive of GraphEnergyTech, stated that the round will enable the company to enhance its advanced graphene electrodes to the next level while contributing to the development of the next generation of solar cells.

Meanwhile, Neil Crabb, Chief Executive of Frontier IP, said: “The investment from Aramco Ventures, a world leader in energy investments, represents a strong endorsement of GraphEnergyTech’s technology and the quality of its electrodes.”