Graphene will be back at the London Stock Exchange (Aim), through the company Biofutures International. Biofutures is being taken over by Graphene Nanochem, through a reverse takeover that values the company at more than £160m.
Biofutures, specializing in refining palm oil waste into biofuels, will focus on developing graphene-based lubricants for extraction of oil. The new company will use a process known as Catalyx, a patented method from extracting graphene from biogases such as methane. This isn’t the first mention of using graphene for oil extraction – in September 2012, we reported on just such a patent application from Baker Hughes.
The new company aims to explore niche applications for graphene, starting from oil extraction. Readmission to Aim is expected on March 26.
Original article: Financial Times