The venture capital group has sunk £100,000 into the company through its Finance for Business North East Proof of Concept fund.
Durham Graphene Science filed a patent 18 months ago on a new method of creating graphene in a reactor using chemical vapour deposition and hopes the technology will allow it to produce product for use in the multi-billion pound worldwide composites market.
Founder Dr Karl Coleman, who is employed as a reader in Durham University’s department of chemistry, forecasts that the business aims to reach turnover in excess of £4m in five years and amass a workforce of 12 to 15 people.
Dr Coleman said Durham Graphene Science is especially interested in providing companies with graphene to use as a strengthening filler in polymers and plastics.
Poll: Should the UK’s railways be renationalised?
The term innovation is bandied about in relation to rail almost as a mantra. Everything has to be innovative. There is precious little evidence of...