TORONTO, Nov. 8, 2022 /CNW/ – Bio Graphene Solutions (BGS), a sustainable manufacturer and supplier of consistent, high-quality graphene from non-graphite source materials via a proprietary thermal-mechanical production process, today announced it is conducting a non-brokered private placement financing to raise up to $3,000,000 (the “Offering”). The Offering is priced at $1.01 per common share.
Net proceeds of the Offering will go towards expanding production capacity of BGS’ consistently high-quality graphene powder through its revolutionary eco-friendly manufacturing process, which converts 100% organic material (biochar) into graphene for use as an additive across numerous applications with a primary focus on material improvement, CO2 reduction, and sustainability in the concrete and asphalt industries.
“BGS is pleased to report that it has done in excess of 2000 industrial concrete mix design tests of material that gets used in the real world (not lab samples) and we have recently been successful in removing 15% of the cement while increasing the strength by 25+% and reducing the CO2 by 30%,” said Gary Van Dusen, CTO & Co-Founder of Bio Graphene Solutions Inc. “We believe this makes us 3-5 times more effective than most carbon capture technologies and presents significant opportunity, particularly considering that the concrete industry is responsible for 8-10% of ALL global greenhouse gases produced.”
BGS is positioning itself as a disruptor in the graphene industry through the Company’s unique production process and “Green Graphene” competitive advantage. BGS has recently partnered with the University of Waterloo—a leading authority and Canada’s premier academia on Smart Infrastructure innovation—in support of its research and development efforts on sustainability in the concrete and asphalt industries.
“We are very pleased to be working on this joint program with Bio Graphene Solutions and Green Infrastructure Partners (GIP) a large industry asphalt partner around finding innovative ways to make material improvements and reduce CO2 emissions, with an emphasis on sustainability in the construction of our roadways, said Hassan Baaj, PhD, P. Eng., MBET. Professor, Norman W. McLeod Chair in Sustainable Pavement Engineering, Director, Centre for Pavement and Transportation Technology. “This is an important two-year joint venture initiative for advancing eco-friendly infrastructure technology in Canada and we are excited by its prospects.”
Used as a performance additive in production, graphene greatly improves the strength, durability and elasticity of numerous materials, considerably lowering manufacturing/logistics costs and reducing carbon emissions; however, traditional graphene production methods have proven cost prohibitive as well as environmentally destructive.
“BGS’ eco-friendly graphene production is easy-to-scale, and the efficiency of our technology allows us to address massive commodity-based markets in a cost-conscious manner. Due to the quality of our product, we are witnessing 5-20x less graphene loading concentrations in our applications compared to other graphene suppliers. This product efficiency enables the company to achieve high revenue growth and profitability quickly with very little capital requirements,” said Liam Farrell, COO “I’m excited with the company’s progression to date and I applaud our R&D and product development teams for their hard work and success that we’ve been able to achieve in such a short period of time.”
BGS will pay a finder’s fee in respect of those purchasers under the offering introduced to the company by certain persons. Each finder will receive a cash payment equal to 5 per cent of the gross proceeds received by the company from purchasers under the offering who were introduced to the company by such finder.
The financing is expected to close on or about November 30, 2022.
SOURCE Bio Graphene Solutions
