U.K. graphene startup went public in an attempt to be first to market

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In a race to capitalize on an emerging market, a graphene startup made its debut on a sub-market of the London Stock Exchange today.

The share price rose from 155.5 to 216 pence–about $3.50. With a market cap of roughly $42 million, Applied Graphene Materials is too small for the main market.

“The reason for IPOing now is we want to be one of the first to market,” CEO Jon Mabbitt said to The Register. “To get there we need the resources. We feel we’ve got the IP and this initial use of funds is to take us to a modest level, a low-risk scale-up.”

Graphene is a one-atom-thick sheet of carbon atoms that is stronger than diamond and more conductive than silicon. It has major potential applications in computing, touch screens, solar panels and strengthening additives. But commercializing it has been difficult due to production costs and difficulty scaling…

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