iGii Raises €26.49 Mn to Scale Production of Its Advanced Carbon Nanomaterial

The new funding will help iGii speed up the commercial development and industrial use of its technology.

The funding includes a €13.65 million (£11.7 million) Series B round led by the Scottish National Investment Bank, with additional investment from PXN Ventures and Archangels. iGii also received €12.84 million (£11 million) from Scottish Enterprise.

Jean-Christophe Granier, CEO of iGii, said, “Every industrial revolution has been enabled by a breakthrough in materials, and this funding means iGii can help enable the next one. We’ve spent years proving what Gii can do and building the manufacturing capability to take it from scientific breakthrough to industrial reality.

“To now have the Scottish National Investment Bank, PXN, Archangels and Scottish Enterprise backing the next stage of iGii is a tremendous endorsement of what this team has built and the opportunity ahead of us. This investment accelerates the commercialisation of Gii – expanding what the material can enable and allowing us to work with some of the world’s biggest manufacturers to turn those capabilities into differentiated products and long-term relationships.”

Adrian Gillespie, Scottish Enterprise Chief Executive, said, “iGii’s technology is an exciting, sustainable and scalable alternative to constrained raw materials which will help build resilience in global supply chains. Its wide variety of applications across many high-growth industries has the potential to position Scotland at the forefront of advanced materials innovation.

“This funding package demonstrates how Scotland’s innovation partners get behind the biggest growth opportunities, combining private investment, patient capital and targeted public sector support to help ambitious businesses scale.

“DeepTech companies often require long-term backing to bridge the gap between breakthrough research and commercial success, and that is where strategic funding can make a real difference to early success.”

Founded in 2016, iGii has developed Gii, a special three-dimensional carbon nanomaterial with a porous structure.

Unlike materials that are mined or made by combining different substances, Gii is grown through a manufacturing process that works at room temperature and can be scaled up for industrial production.

iGii says Gii can be used across different industries and applications. The company aims to provide manufacturers with a high-performance material that can help them develop and improve next-generation products.

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