Scottish firm delivering ‘life-changing benefits for our planet’ secures £9m to scale up and create jobs

From left: Alastair McMillen of the SNIB, Niki McKenzie of Archangels, and Jean Christophe-Granier of iGii with a sheet of Gii-Sens. Picture: Phil Wilkinson.

A firm behind a material billed as 100 times stronger than steel is set to create more jobs after securing a seven-figure funding package in a round led by the Scottish National Investment Bank (SNIB).

Stirling-based nanomaterial producer iGii, formerly known as Integrated Graphene, has secured the £8.8 million cash injection, which it says it will use to accelerate growth, including expanding its facilities and creating more highly skilled local jobs.

The firm added that it will use the funds to accelerate customer projects, increase its manufacturing capacity, and deepen its research and development to explore further applications of its patented Gii material, a 3D foam made from carbon atoms. This includes scale manufacturing of Gii-Sens, for example, its component for point-of-care diagnostic sensors helping deliver “precise, laboratory-level” results regarding the likes of cancers, pathogens, and liver and heart failure.

The funding round was led by a £4m injection from the SNIB, with the remainder coming from existing iGii shareholders Archangel Investors and Par Equity, both of which first invested in the business in 2020. It follows Jean-Christophe Granier taking the chief executive reins in September 2023.

He said: “We are laser-focused on bringing our revolutionary Gii technology to markets, with immediate and significant opportunities in the healthcare sector. This additional funding will enable us to accelerate ongoing customer projects and invest in our reel-to-reel manufacturing capabilities to deliver commercial quantities of Gii worldwide for our customers.

“We are thrilled the [SNIB] is supporting our ambitious growth plans, and helping us export true Scottish innovation to the world. Together with our existing investors, we are transforming customers’ product performance, and delivering life-changing benefits for people and our planet.”

Alastair McMillen, associate director, sustainable investment, at the SNIB, said: “We are excited by the growth and impact potential of iGii, and we are pleased to be invested in the company’s future, which includes scaling its products for a global market and bringing more skilled jobs to Stirling.”

Niki McKenzie, joint MD for Archangels, also commented: “Partnering with our co-investors, Archangels is looking forward to supporting JC and his team on this next phase of growth. Having scaled up its manufacturing capabilities, and with this funding secured, iGii now has the platform to realise its growth ambitions.”