News: Anteo Diagnostics raises $1M to advance use of nanoglue in batteries

Anteo Diagnostics (ASX:ADO) has completed a $1 million placement at $0.08 per share to fund continuing development of its nanoglue technology in the battery sector.

The nanoglue – a variation of its technology for gentle and secure multipoint binding of biomolecules to synthetic surfaces – is used to stabilise existing and new materials.

Early data has provided confidence that the technology is compatible with and will enhance batteries of today and the future, providing greater capacity, improved efficiency and longer life.

Proceeds from the issue of 12.5 million new shares will be used to:

- Further develop Anteo’s nanoglue;
- Support the ongoing internal development of activities independent of other Anteo projects;
- File further patents around any additional inventions;
- Increase the investigations into wider applications of nanoglue within the battery market;
- Establish and grow relevant commercial networks within the battery industry; and
- Examine different commercial nanoglue alternatives.