Russian-founded graphene nanotube leader valued at $2bn, inks investment agreement with Daikin
OCSiAl, the Russian-founded global graphene nanotube leader, has inked an investment and business cooperation agreement with Japanese giant Daikin Industries. The companies disclosed OCSiAl’s valuation (“about $2bn”) but not the terms of the share subscription deal, reports East-West Digital News (EWDN).
Pronounced ‘Oxial,’ OCSiAl refers to four chemical elements:
oxygen (O), carbon (C), silicon (Si) and aluminum (Al). Touted as the world’s
only manufacturer of graphene nanotubes at a large scale, this company is the
brainchild of Russian physicist Mikhail Predtechenskiy and three businessmen —
Yury Koropachinskiy, Oleg Kirillov and Yury Zelvenskiy.
Having established their company in 2010 in Luxembourg, they
garnered the support of several Russian investors, including Rusnano, the
state-controlled nanotech giant ($60mn invested in 2012 and 2015); individual
investor Igor Kim (2013, 2014); Moscow-based PE find Expo Capital (2019); and
an undisclosed British investor (2019).
In 2019 A&NN Investment — an investment holding
controlled by oligarch Alexander Mamut — put $5mn to acquire 0.5% of OCSiAl,
purchasing a fraction of Rusnano’s stake.
Graphene nanotubes (also called single wall carbon
nanotubes) are one-atom-thick graphene sheets rolled into tubes. Described for
the first time by Japanese scientists, this high-performance material enables
the creation of products with new properties. They are used for electrochemical
power sources, elastomers, paints and coatings, composites and plastics. For
example, OCSiAl says its nanotubes are used by all major Li-ion battery makers
to develop cells for car manufacturers.
Quasi global monopoly
OCSiAl Group has more than 420 employees in facilities or
offices in Europe, Russia, the USA, China, India, Japan, and South Korea. It
claims a current annual production capacity of 80 metric tons, “accounting for
97% of the world’s graphene nanotube production capacity.”
The company launched its first industrial-scale facility for
graphene nanotube synthesis in 2013, and presented its commercial product,
’Tuball,’ in 2014. A second facility for graphene nanotube synthesis followed
in Novosibirsk. The first stage of a new synthesis facility in Luxembourg is
scheduled to start in 2024; then a new research center will be established in
Novosibirsk. Under plans, this Siberian project will allow the company to
increase fourfold its graphene nanotube production.
OCSiAl and Daikin claim that their combined expertise and
know-how “could result in a fundamental shift in the global industry.” The two
companies will “develop, produce, and market graphene nanotube solutions for
next-generation Li-ion batteries and fluoropolymers,” — which comprise a
substantial part of Daikin’s business.
“Graphene nanotubes demonstrate exceptional performance and
definitive advantages over standard additives, opening-up new horizons for
these applications,” the companies stated.
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