The company’s investment in growth supports 19 high-skilled roles created in the last 12 months, representing a 63% growth in headcount.

The expansion includes a new strategic base at the Stirling University Innovation Park. The new facility will allow Integrated Graphene to run a fast and flexible prototype manufacturing line, increasing its annual manufacturing Gii capacity by 1000%. Current customers include global blue chip life science companies and world-leading academic institutions.

New lab space will double the amount of R&D work that Integrated Graphene can carry out in-house on its unique product portfolio and applications for Gii’s biosensing and power storage capabilities.

Following graphene’s discovery in 2004, it has been hailed as a wonder material for its potential across a number of industries and applications, from quantum computing to healthcare. In the biosensor market most companies use single-layer CVD graphene which is not reproducible enough, with too little surface area and is costly to introduce into cost-effective tests that can be placed in the home.

Integrated Graphene has developed a unique breakthrough process to produce a pure sponge-like carbon 3D scaffold (Gii) that has all the desired properties of graphene yet does not suffer any of its scale-up issues. Gii has potential applications for multiple industries including biosensors, internet of things (IOT), energy storage, pressure and gas sensors.

Claus Marquordt, co-founder and CEO, Integrated Graphene, said: “Scotland’s technology and life sciences sectors are incredibly dynamic and we’re proud to be able to realise our expansion plans here in Stirling.

“Opening our facility at Stirling University Innovation Park will help us to build upon our already strong academic links. We’ve only scratched the surface with the potential applications of Gii and look forward to intensifying relationships with Stirling University and other academic partners to understand further capabilities of our novel material.

“Having the capacity to scale our production into millions per year and state-of-the-art R&D operations will only increase the attractiveness of our product within key markets. As a diagnostic sensor component, for example, it is not only demonstrably more sensitive but also more sustainable and lower cost, which means it can produce much quicker and more accurate results for diagnosing all sorts of health conditions. It’s a very exciting time for the business and we’re looking forward to continuing to scale and commercialise fast.”

The addressable market for graphene enabled products is potentially more than $25 billion based on reasonable levels of penetration across all markets, and volume demand for graphene across key application markets is thought to have the potential to reach $1+ trillion by 2030.