Nanotechnology Now – Press Release: Manchester spin-out graphene signs $1 billion game-changing deal to help tackle global sustainability challenges: A landmark deal for graphene commercialization
Home > press > Manchester graphene spin-out signs $1 billion game-changing deal to help tackle global sustainability challenges: A landmark deal for graphene commercialization
| $1 billion worth of signings: pictured is Dr Vivek Koncherry, CEO of Graphene Innovations Manchester (front, left), based at the Graphene Engineering Innovation Center in Manchester, UK, signing a Memorandum of Understanding with Waleed Al Ali, CEO of Quazar Investment Company (UAE) (front , right), which will actively help lead new graphene companies to successful large-scale commercialization. Quazar CREDIT Investment |
Abstract:
A spin-out company from the graphene innovation ecosystem at The University of Manchester has formed an international partnership that will spearhead an unprecedented advance in graphene-based technologies intended “to make a substantial impact on global CO2 emissions”.
Manchester graphene spin-out signs $1 billion game-changing deal to help tackle global sustainability challenges: A landmark deal for graphene commercialization
Manchester, United Kingdom | Posted April 14, 2023
UK-based Graphene Innovations Manchester Ltd (GIM), founded by University of Manchester graduate Dr Vivek Koncherry, has signed a Memorandum of Understanding (MoU) with Quazar Investment Company to set up a new company in the UAE. Graphene innovation has “
This agreement – lauded for its role in strengthening ties between the UK and the UAE – will be one of the most ambitious projects to date to commercialize graphene as it accelerates advanced R&D to large-scale manufacturing – an investment vision worth a total of $1 billion.
The new venture will develop and manufacture premium, environmentally friendly products using advanced 2D materials, including breakthrough graphene-enhanced concrete that does not require cement or water and can be made using recycled materials.
Dr Vivek Koncherry, CEO of Graphene Innovations Manchester, based at the Graphene Engineering Innovation Center (GEIC) Manchester, said: “We are proud to be associated with Quazar so we can put together a strong world-class team to provide us with the opportunity to massively deploy technology-based our graphene.”
Waleed Al Ali, CEO of Quazar, who will be active in helping bring the new company to successful large-scale commercialization, said: “The new graphene company will take a global lead in the manufacture of eco-friendly concrete and other products. We are pleased that Quazar can play an active role in this. helping fulfill the support of His Highness Sheikh Saeed Bin Hamdan Bin Mohamed Al Nahyan of the UAE for the UAE Vision 2030.”
James Baker, CEO added: “This agreement with our GEIC partners Graphene Innovations Manchester and Quazar is a watershed moment for the commercialization of graphene as it demonstrates great confidence in the potential of this advanced material to help lead our transition to a net zero world. .
“This is also a very proud moment for the community as it confirms that our innovation ecosystem provides the right platform to cultivate pioneering R&D into world-class graphene and other 2D materials.
“Manchester is known as the ‘home of graphene’ – but increasingly, it is also known as the home of its commercialization potential. We are therefore able to form international partnerships, such as in the UAE, based on this reputation; and from this strong position we can slot our city-region and the UK more generally into the global graphene economy.
“As Greater Manchester further develops its innovation and production potential – all supported by the University’s leadership in advanced materials – the regional city will have great opportunities with access to international supply chains, foreign investment and global markets.”
James Baker added: “Graphene innovation is again being hailed for its role in strengthening the relationship between the UK and the UAE.”
The University of Manchester-based international graphene innovation ecosystem was recently cited as an example of attracting investment into local regional economies – and thereby helping to advance the UK’s ‘level-up’ agenda.
The spotlight comes in a report entitled, The role of universities in encouraging overseas investment into UK Research and Development published by the university think-tank the Institute for Higher Education Policy (HEPI).
The strategic partnership highlighted is an ambitious agreement between the University and Abu Dhabi-based Khalifa University of Science and Technology that aims to provide a funding boost for graphene innovation to develop new, sustainable technologies. Attracting international funding to the North West region of England also helps the UK government increase R&D spending across the country.
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