Aramco Ventures backs GraphEnergyTech and its metal-free electrodes

GraphEnergyTech, an EPFL and University of Cambridge spin-off with offices in Lausanne and Cambridge, has completed the first close of a seed round of up to GBP 3 million, with Aramco Ventures returning as an investor.

GraphEnergyTech has completed the first close of its seed round, which targets up to GBP 3 million in total and remains open to new investors. Aramco Ventures, which led the company’s pre-seed round in 2024, returns alongside existing shareholders and new business angels, including investors from Canada.

Carbon instead of gold and silver

The spin-off of EPFL and the University of Cambridge develops highly conductive inks and pastes based on carbon and graphene, used as metal-free electrodes. By replacing gold and silver, the company says it reduces exposure to volatile metal prices while keeping electrode efficiency and durability. The technology builds on research led by Professor Michael Grätzel at EPFL and by researchers at Cambridge.

The company started with solar panels and is expanding into fuel cells, heating technologies and printed electronics. It is also part of a project with Taiwanese and British partners to develop commercial perovskite solar modules with graphene electrodes.

Towards industrial validation

The new funding will support technology development, industrial validation and commercialization, including work with industrial partners internationally. GraphEnergyTech has also received grants from Horizon Europe, Innovate UK and Innosuisse.

In the company’s press release, Zayed Alamri, executive managing director of Aramco Ventures, stated that he sees “potential for this technology to support various industries.”