Samsung invests in American nanotech firm XG Sciences to co-develop next-gen batteries

By VCPOST Staff Reporter

Jan 31, 2014 09:53 AM EST

XG Sciences (XGS) revealed that Samsung Ventures has poured in a strategic investment in the nanotech firm. The terms of the investment, however, were not disclosed, according to Nanotech Now.

XGS said it will use the recent investment in the research and development of the advanced products of the company, the report added.

In addition, the Michigan-based firm also plans to formally cement its project with Samsung SDI, which is the biggest Li-Ion battery maker in the world. The two firms are currently in a development program focused on producing next-generation batteries for consumer devices and electronics, the report explained.

In April 2013, XGS introduced new graphene-based materials for Li-Ion batteries. These new materials have four times the average capacity of their present counterpart. In November last year, the US Department of Energy awarded $1 million to XGS to fund the development of these lithium-ion battery materials. Whether these materials are part of XGS and Samsung SDI's joint project is yet to be confirmed, Nanotech Now reported.

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