UK graphene company in $1 billion UAE deal

Partnership 'to make a substantial impact on global CO2 emissions'

Graphene molecular structure
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A Manchester-based company has struck a $1 billion partnership deal with a major UAE investment fund that will spearhead an unprecedented scale-up of graphene-based technologies intended “to make a substantial impact on global CO2 emissions".

UK-based Graphene Innovations Manchester has signed an agreement with Quazar Investment Company to create a new company in the UAE.

The partnership will be one of the most ambitious projects to date to commercialise graphene, an exceptionally strong and electrically conductive material made up of a single layer of carbon atoms arranged in a hexagonal lattice.

It's stronger than steel, more conductive than copper and more flexible than rubber.

This new venture will develop and produce premium, environmentally-friendly products using advanced materials, including graphene-enhanced concrete that does not need cement or water and can be made using recycled materials.

"The new graphene company will take a global lead in making environmentally friendly concrete and other products," said Waleed Al Ali, chief executive of Quazar.

"We are glad that Quazar can play an active role in helping fulfil the UAE's His Highness Sheikh Saeed Bin Hamdan Bin Mohamed Al Nahyan's support for the UAE Vision 2030."

Meanwhile, Dr Vivek Koncherry, chief executive of GIM said: "We are proud to be associated with Quazar so that we can assemble a powerful world-class team to provide us the opportunity to massively deploy our graphene-based technologies.”

Graphene was first isolated and analysed at University of Manchester about twenty years ago. The two scientists involved, Andre Geim and Konstantin Novoselov, won the Nobel Prize for Physics in 2010.

“This agreement with our GEIC partner Graphene Innovations Manchester and Quazar is a seminal moment for the commercialisation of graphene as it demonstrates huge confidence in the potential for this advanced material to help lead our transition into a net zero world," said James Baker, chief executive of Graphene@Manchester, which is part of the University of Manchester.

Updated: April 12, 2023, 12:43 PM