Dotz raised the $6 million with an offer of 20 cents per share as part of a reverse takeover of one-time mining company Northern Iron.
The company — based in Israel but chaired by Perth-based Otsana Capital managing director Faldi Ismail — focuses on the development, manufacture and commercialisation of Graphene Quantum Dots (GQDs), and will use the funds for research, development, fabrication, sales marketing and business development.
GQDs are nanoparticles, which Dotz Nano says have “unique properties with uses across a broad range of industries and allowing superior benefits to their products and applications, such as increased brightness in colour reliant products (LED displays, pigments, dyes and detergents), as well as next generation energy, electrical and medical applications".
Under the agreement, Dotz Nano will have exclusive licensing rights to commercialise developed applications.
Dotz Nano chief executive Moti Gross said the ASX listing marked an “extremely significant day for the company".
”I would like to take the opportunity to thank our long-term shareholders and our strong management and advisory board, specifically our chairman, Mr Faldi Ismail, who has supported Dotz Nano during the whole process.
"We have a first mover advantage as we are the only company able to produce large quantities of nontoxic GQDs out of coal in a simple one-step process. We have had extremely encouraging discussions with potential customers, sub-licensees and distributors, as with the Mainami Group in Japan, and there will be no shortage of activity from our potential deal pipeline.”
Gross says Dotz Nano’s “exclusive ability” to extract GQDs from coal rather than graphite, allows the company to produce inexpensive, non-toxic GQDs at ten times the production yield of conventional GQDs (currently ~25% yield coal derived, compared to ~2% from graphite).
Under the MOU with NTU Singapore, Dotz Nano and NTU will establish what they claim is the first global joint research program focusing on the applications and development of GQDs.
The deal will see Dotz Nano and NTU Singapore provide up to S$20 million in joint funding over a five-year period and, in addition to the joint financing, both parties say they will endeavour to obtain additional grant funding from other sources.
A joint R&D committee will be established to decide which research projects to accept into the programme, with Dotz Nano and NTU Singapore retaining ownership rights of their background intellectual, and jointly owning the intellectual property under the programme.
Dr Lim Jui, chief executive of NTU Innovation and NTUitive, says Graphene, commonly known as the “wonder material of the 21st century”, is a material which NTU Singapore has “deep expertise in. coupled together with our strong track record of innovation and industry collaboration”.
"We look forward to developing real world applications benefitting mankind in partnership with Dotz Nano,” he said.
Dotz Nano says it will start to commercialise its technology between Q4 2016 and Q2 2017, in line with expected first sales of GQDs.