A Comprehensive Guide to Investing in Graphene: 9 Public Companies Leading the Advanced Materials Revolution

Graphene has emerged as one of the most transformative materials of our era, often described as the “wonder material” of the 21st century. For investors seeking exposure to cutting-edge technology, investing in graphene represents an opportunity to participate in a rapidly expanding ecosystem of applications across diverse industries. From consumer electronics and energy storage to aerospace and automotive sectors, graphene-based innovations are reshaping how products are engineered and manufactured.

The demand for graphene applications has intensified across multiple sectors. Technological breakthroughs in electronics have unlocked new possibilities—flexible display screens, wearable devices, high-speed transistors, and advanced battery systems now incorporate graphene’s exceptional electrical and thermal conductivity. Beyond electronics, graphene coatings and composites are gaining traction in energy storage, aerospace, and automotive industries, where they enhance efficiency and reduce weight. These coatings improve battery performance, optimize thermal management in generators and conductors, while lightweight composites enable aircraft and automobiles to operate more efficiently. For those exploring how to begin investing in graphene, this guide examines nine publicly traded companies actively advancing graphene technology and commercialization.

Large-Cap Graphene Leaders: Established Companies with Significant Market Reach

HydroGraph Clean Power: Setting the Market Standard

HydroGraph Clean Power stands as one of the largest publicly traded graphene firms, with a market capitalization of approximately C$1.2 billion. The company produces cost-effective, high-purity graphene and hydrogen using an exclusive patented detonation process licensed from Kansas State University, achieving 99.8 percent pure carbon content. This technological advantage positions HydroGraph as a premium supplier in the competitive graphene marketplace.

The company’s Fractal Graphene product line has demonstrated exceptional performance characteristics. Research collaboration with Arizona State University confirmed that Fractal Graphene excels in ultra-high-performance concrete and 3D-printed structures. HydroGraph has expanded its product portfolio to include an advanced graphene dispersions line developed in partnership with battery materials testing company NEI, designed specifically for high-performance electrodes in energy storage applications.

Beyond structural applications, HydroGraph is penetrating the medical sector through a commercialization agreement with Ease Healthcare. This partnership integrates HydroGraph’s proprietary fractal graphene technology with Hawkeye Bio’s patented biosensor for the LEAP early detection lung cancer test, demonstrating graphene’s potential in healthcare innovation. Recent patent approvals underscore the company’s technological leadership—it received its first U.S. patent for a novel actuator technology employing electrically conductive porous carbon materials to generate controlled mechanical force.

In 2025, HydroGraph launched a Compounding Partner Program aimed at achieving commercial-scale production of Fractal Graphene in thermoplastics. The initial cohort of certified partners spans automotive and packaging sectors, signaling strong market demand for scalable graphene integration.

Graphene Manufacturing Group: Energy Efficiency Pioneer

Graphene Manufacturing Group (GMG) operates with a market capitalization of C$398.39 million, focusing on energy-saving and energy storage solutions based on proprietary graphene production technology. The company’s product offerings include graphene-enhanced coatings for HVAC systems, electronic heat sinks, industrial plants, and data centers—applications where thermal management directly impacts operational costs.

GMG’s graphene lubricant additives for diesel and gasoline engines represent another significant revenue stream. The company has taken steps to bring these products directly to end customers. In May 2025, GMG launched a dedicated website for direct e-commerce sales of its engine performance-enhancing G Lubricant graphene concentrate. By July 2025, the company commenced direct customer sales across Australia, the UK, Europe, China, Canada, and the US, establishing a global distribution network for consumer-facing products.

The company’s Gen 2.0 Graphene Manufacturing Technology plant represents a critical growth initiative. In May 2025, GMG’s board approved an AU$900,000 expenditure for early construction works at its Queensland facility. The planned plant carries an estimated capital cost of AU$2.3 million and is projected to be operational by June 2026, initially producing 1 metric ton annually with plans to scale to 10 metric tons per annum.

Beyond commercial graphene applications, GMG collaborates with Rio Tinto and the University of Queensland, with Australian government funding, to develop graphene aluminum-ion batteries. A December 2025 update revealed that prototype batteries can charge in under 6 minutes while matching the performance characteristics of lithium titanate oxide batteries—typically premium, high-cost alternatives. This breakthrough chemistry could fundamentally reshape electric vehicle design and consumer electronics charging infrastructure.

NanoXplore: Volume Producer with Growing Demand

Established in 2011, NanoXplore has built a reputation for producing high volumes of graphene at competitive prices through environmentally sound manufacturing. With a market capitalization of C$444.5 million, the company operates one of North America’s largest graphene production facilities.

NanoXplore’s GrapheneBlack powder enhances plastic products, dramatically improving reusability and recyclability—addressing a critical environmental challenge in polymer manufacturing. The company’s patented SiliconGraphene battery anode material solution represents innovation in energy storage, employing GrapheneBlack as a protective coating around silicon particles to produce safer, more reliable battery cells for lithium-ion applications.

Recent commercial milestones underscore growing industry adoption. In September 2025, NanoXplore announced a multi-year supply agreement with Chevron Phillips Chemical for its Tribograf carbon powder, a key ingredient in NanoSlide—an innovative lubricant for oil and gas drilling operations developed collaboratively by both companies. In October 2025, the company received a Canadian government contribution of up to US$2.75 million under the Energy Innovation Program, reflecting official recognition of the company’s strategic importance to national advanced materials development.

However, fiscal year 2025 results reveal market headwinds. For the year ended June 30, 2025, NanoXplore reported total revenues of C$128.91 million, declining 1 percent from the prior year, with particularly weak second-half performance. This slowdown continued into Q1 fiscal 2026, with revenues dropping to C$23.44 million, down 30 percent from the comparable prior-year quarter. The company attributed this decline to reduced volume demand from its two largest customers, a challenge that accelerated during summer months. However, new commercial agreements, particularly with Chevron Phillips, are expected to provide growth momentum in subsequent quarters.

Mid-Tier Companies: Strategic Players Expanding Capacity and Applications

Black Swan Graphene: Building Integrated Supply Chains

Black Swan Graphene, trading on the TSX Venture Exchange with a market capitalization of C$64.71 million, positions itself as an emerging powerhouse in bulk graphene production targeting end-use applications in concrete and polymers. The company offers GraphCore graphene nanoplatelets and GEM—polymer-ready graphene-enhanced masterbatches—products designed for direct industrial integration.

A transformational partnership with UK-based chemicals manufacturer Thomas Swan & Co., which holds a 15 percent equity stake, has accelerated Black Swan’s development trajectory. Thomas Swan contributes valuable intellectual property portfolios and manufacturing expertise related to graphene production, enabling Black Swan to construct a vertically integrated supply chain extending from raw material sourcing through final graphene products.

Production capacity represents a critical competitive metric. Black Swan is executing an aggressive expansion plan, more than tripling annual production capacity from 40 metric tons of high-quality graphene to 140 metric tons per year through additional capacity installation at Thomas Swan’s UK facility. The expansion is scheduled for completion in 2025-2026, positioning the company to capture growing market demand.

Commercial partnerships validate Black Swan’s technology and market positioning. In 2024, the company formalized a commercial partnership with Graphene Composites, incorporating Black Swan’s graphene into GC Shield, a patented ballistic protection technology. A distribution and sales agreement with Broadway Colours enables incorporation of Black Swan’s graphene nanoplatelets into graphene-enhanced masterbatches for plastic manufacturing applications.

Black Swan’s 2025 activity demonstrates accelerating commercialization. In early 2025, the company inked a strategic partnership with thermoplastic compounds manufacturer Modern Dispersions (MDI), establishing a preferred compounder arrangement whereby Black Swan supplies graphene nanoplatelets and MDI manufactures Graphene Enhanced Masterbatch products. Summer 2025 brought additional momentum with international distribution agreements involving METCO Resources and Ferro. In September 2025, Black Swan secured a Canadian patent for its proprietary “apparatus and method for bulk production of atomically thin 2D materials, including graphene,” protecting technological differentiation.

Talga Group: Vertical Integration in Battery Anode Production

Talga Group, with a market capitalization of AU$201.97 million, operates as a vertically integrated battery anode and advanced materials company with operations spanning Sweden, Japan, Australia, Germany, and the UK. The company mines its own graphite feedstock and produces finished anode products—a rare integrated model providing competitive advantages in cost structure and supply chain security.

Talga’s product portfolio includes the Talphite and Talphene graphene product lines, comprising conductive additives for battery cathode and anode applications, solid-state anode products, and recycled graphite offerings. This diversification addresses multiple segments within the rapidly expanding battery materials market.

Government support underscores Talga’s strategic importance. In April 2025, the Swedish Agency for Economic and Regional Growth granted Talga’s Luleå anode refinery Net-Zero Strategic Project status under the EU Net-Zero Industry Act—a designation reflecting alignment with European decarbonization priorities. Two months later, the Swedish government approved Talga’s mining permit for the Nunasvaara South natural graphite mine in Northern Sweden, removing a critical regulatory hurdle for expanded production capacity.

Commercial demand validation arrived in May 2025 when Talga secured a binding offtake agreement with battery charging technology company Nyobolt for approximately 3,000 metric tons of the company’s flagship Talnode-C battery anode product over an initial four-year term beginning May 13, 2025. Supply will originate from the newly approved Luleå refinery.

In August 2025, Talga introduced Talnode-R, a novel proprietary graphite anode product manufactured from recycled lithium-ion battery waste sourced through two recycling streams—gigafactory production scrap and spent anodes from end-of-life batteries. This circular economy innovation addresses growing environmental and supply chain concerns regarding battery materials sourcing.

To fund scaled production expansion, Talga completed a AU$14.5 million capital placement and submitted a detailed mining plan to Swedish authorities for the Nunasvaara South graphite mine. In a major validation event, the Swedish government adopted Talga’s mining plan in late January 2026, marking a crucial milestone enabling production ramp-up to planned levels of 5,000 metric tons per year.

First Graphene: Advancing Alternative Feedstocks and Applications

First Graphene, with a market capitalization of AU$66.92 million, differentiates itself through development of environmentally sustainable graphene production from ultra-high-grade graphite feedstocks. The company combines cost competitiveness with quality assurance in bulk graphene manufacturing.

The company participates in a nine-member international consortium developing and commercializing lightweight, impermeable cryogenic all-composite tanks for liquid hydrogen storage and transport—applications critical to emerging hydrogen economy infrastructure. Collaboration with three Australian universities has yielded innovative graphene-based products and intellectual property, including PureGRAPH graphene powder, while applications encompass fire retardancy, energy storage, and concrete reinforcement.

First Graphene’s Kainos technology represents a significant innovation. The company secured funding for collaborative research aimed at commercializing Kainos technology for producing high-quality battery-grade synthetic graphite and pristine graphene from petroleum feedstock using a scalable hydrodynamic cavitation manufacturing process. Early 2025 brought regulatory validation when the Australian and South Korean governments granted patents for Kainos technology. The company completed an AU$2.4 million private placement to accelerate global commercial pipeline development.

Strategic commercial agreements demonstrate market traction. In May 2025, First Graphene secured an exclusive supply agreement with Alasmas Berkat Utama, an Indonesian industrial safety boots manufacturer. The contract stipulates delivery of approximately 2.5 metric tons of PureGRAPH 10 masterbatch over the initial two-year period for incorporation into safety footwear for Southeast Asia’s mining workforce.

Research collaborations expand application possibilities. In July 2025, the company initiated a ten-month research initiative with Imperial College London and University College London focused on graphene integration in 3D metal printing technologies for aerospace and motor sports applications. In October 2025, sustainable energy company Senergy launched new solar technology and automotive products incorporating PureGRAPH for the UK market.

Financial performance metrics show emerging positive momentum. In fiscal Q2 2026 (ended December 31, 2025), First Graphene reported its strongest quarter on record, with operating cash inflows surging 423 percent quarter-over-quarter to AU$853,000, while customer cash receipts increased 156 percent—indicators of rapidly expanding commercial adoption.

Specialized and Emerging Graphene Companies

CVD Equipment: Enabling Technologies for Advanced Materials

CVD Equipment, trading on NASDAQ with a market capitalization of US$28.72 million, occupies a specialized niche in manufacturing equipment enabling graphene and nanomaterial production. The company produces chemical vapor deposition systems, gas control apparatus, and process solutions for industrial materials and coatings applications.

CVD’s technology portfolio extends beyond graphene to include production of carbon nanotubes and silicon nanowires—related nanomaterial categories serving semiconductor and energy sectors. The company specifically targets demand for silicon carbide wafers essential to electric vehicle power electronics and semiconductor manufacturing, plus high-performance battery materials, aerospace engine components, and advanced semiconductor applications.

Key product innovations include the PVT200 system, specifically engineered to grow silicon carbide crystals for 200-millimeter wafer manufacturing used in semiconductor fabrication. The company’s chemical vapor infiltration technology produces advanced, energy-efficient materials for gas turbine engines—addressing critical thermal management challenges in aerospace propulsion.

CVD Equipment maintains an extensive network of industrial and academic partnerships. In October 2025, the company received an order from Stony Brook University for two PVT150 systems designated for the institution’s newly established semiconductor research center.

Financial performance in 2025 reflects mixed conditions. For the first three quarters of 2025, total revenues reached US$20.8 million, up 7.1 percent versus the prior-year period. However, quarterly performance was uneven—Q1 demonstrated exceptional strength with revenues of US$8.3 million, up 69 percent year-over-year, while Q3 revenues declined to US$7.4 million, down 9.6 percent, attributable to “lower MesoScribe revenues following the cessation of its operations in 2024.”

In response to order rate fluctuations and booking challenges within its CVD Equipment division, the company announced a strategic operational shift. Management transitioned from a vertically integrated fabrication model to selective outsourcing of component fabrication, optimizing cost structure and operational flexibility.

Directa Plus: From Industrial Applications to Environmental Solutions

Directa Plus, listed on the London Stock Exchange with a market capitalization of GBP 13.16 million, specializes in graphene nanoplatelet production for commercial applications spanning textiles, composites, and specialty markets. The Italy-based firm has developed a proprietary graphene material designated G+ Graphene Plus, engineered to be both portable and scalable for diverse end-use applications.

The company’s product diversification extends creatively into consumer goods—Directa Plus supplies graphene for golf ball manufacturing, leveraging graphene’s elasticity properties to enhance player control and swing dynamics. This diversification demonstrates graphene’s expanding penetration beyond traditional industrial markets.

A “landmark agreement” announced in December 2023 involved acquiring a proprietary system for preparing graphene compounds optimized for market-ready battery and polymer applications, unlocking two additional commercial channels for Directa Plus products.

Environmental applications represent a significant growth avenue. Directa Plus developed Grafysorber, a proprietary nanoplatelet-based technology capable of absorbing 100 times its own weight—enabling recovery of oil and hydrocarbons through treatment of water, sludge, and industrial emulsions. The company’s subsidiary Setcar, specializing in environmental services, is generating commercial traction through Grafysorber deployment.

Setcar’s contracted work validates commercial demand for graphene-enabled environmental solutions. In February 2025, Setcar secured a 1.5 million euro contract with Midia International for tank cleaning and waste disposal services utilizing Grafysorber technology supporting offshore drilling operations in the Black Sea. The same month, Setcar renewed a 1.1 million euro contract with Ford Otosan (a Romanian Ford subsidiary) for comprehensive waste management services. In April 2025, Setcar signed a contract extension with OMV Petrom valued at 1.59 million euros for applying Grafysorber technology to oil sludge treatment, emulsion processing, and contaminated water remediation.

Financial results for fiscal year 2025 (ended December 31) showed modest expansion. Directa Plus reported revenues of 7 million euros, representing 5.1 percent growth compared to 6.66 million euros in the prior year, suggesting gradual market acceptance and commercialization progress.

Haydale: From Heating Technology to Net-Zero Consulting

Haydale, trading on the London Stock Exchange with a market capitalization of GBP 35.76 million, designs, develops, and commercializes advanced materials through multiple subsidiaries. The company focuses on proprietary heating ink-based technology integrating graphene and complementary nanomaterials into next-generation industrial applications. As of 2026, Haydale has expanded into a vertically integrated decarbonization platform through strategic acquisition of a B2B technology platform.

The company maintains a partnership with the University of Manchester’s Graphene Engineering Innovation Centre (GEIC), collaboratively researching and developing graphene-based innovations. Priority applications include conductive ink heating systems for automotive applications and the emerging green buildings sector.

Haydale’s commercial pipeline accelerated in 2025. In March, the company announced new commercial contracts for its advanced heating systems. Affordable Warmth Solutions contracted for development of a refined graphene heater ink product, while National Gas Transmission (the UK national gas grid operator) engaged Haydale’s technology for gas network modernization and efficiency upgrades.

In April 2025, Haydale disclosed that its JustHeat graphene-based heating system achieved CE marking certification, confirming compliance with European safety and environmental standards. This regulatory approval removes a significant commercialization barrier and signals readiness for European market deployment.

Market recognition followed. The JustHeat system earned National Product of the Year designation at the 2025 National Energy Efficiency Awards—a validation recognizing measurable energy performance improvements and supporting market positioning against incumbent technologies.

Haydale’s 2026 strategy emphasizes market-access expansion. The company completed acquisition of Intelligent Resource Management (trading as SaveMoneyCutCarbon), a UK-based sustainability consulting firm. SMCC operates a sustainability hub assisting corporate clients in net-zero transition planning. This acquisition provides direct market access and customer channels for JustHeat deployment and complementary Haydale technologies, while SMCC’s sustainability expertise supports portfolio company positioning. The acquisition prompted Haydale’s official name change from Haydale Graphene Industries to Haydale, reflecting the company’s evolution beyond pure graphene focus toward integrated sustainability solutions.

Investment Considerations for Graphene Stocks

Key Metrics for Evaluating Graphene Companies

Those investing in graphene companies should evaluate several critical factors distinguishing genuine growth opportunities from speculative positions. Production capacity expansion timelines and government validation of production permits indicate seriousness of commercial-scale ambitions. Financial metrics merit particular attention—revenue growth rates, gross margins on graphene products, and cash flow from operations reveal true market traction versus venture-stage cash burn.

Partnership quality and diversity provide important signals. Established collaborations with Fortune 500 companies, government agencies, and leading universities validate technological merit while de-risking commercialization pathways. Conversely, excessive reliance on single customers creates concentration risk.

Patent portfolios and intellectual property protection differentiating proprietary production processes from commodity materials warrant scrutiny. Graphene markets will mature, and competitive pricing pressure will intensify—companies possessing defensible technological advantages and proprietary material specifications will maintain premium valuations and margins.

Diverse Company Stages and Investment Profiles

The publicly traded graphene ecosystem encompasses companies across multiple development stages, offering distinct risk-return profiles. Large-cap firms like HydroGraph have established revenue streams, commercial partnerships, and technology validation, albeit with potentially constrained growth acceleration. Mid-cap companies such as Graphene Manufacturing Group and Talga possess significant catalysts—production facility completion, mining permit approvals, major customer contracts—potentially driving accelerated stock appreciation.

Smaller-cap emerging firms like Black Swan and First Graphene offer higher volatility alongside greater potential upside if commercialization milestones are successfully achieved. The risk-reward calculation differs substantially based on capital availability, partnership strength, and near-term execution catalysts.

Market Dynamics Favorable to Graphene Expansion

Secular trends support expanded graphene adoption. The global transition toward electric vehicles creates insatiable demand for advanced battery materials and thermal management solutions where graphene excels. Energy efficiency imperatives across industrial, commercial, and residential sectors increasingly incentivize material upgrades yielding measurable performance gains—precisely the value proposition graphene-based solutions deliver.

Government decarbonization policies provide direct support through funding programs, strategic project designations, and mining permit approvals, de-risking commercial development for leading firms. Academic research collaborations continue advancing next-generation applications, expanding addressable markets beyond current known uses.

Looking Ahead: The Graphene Investment Landscape

The rapidly evolving graphene ecosystem presents multifaceted opportunities for investors with appropriate risk tolerance and investment horizon. Companies featured in this analysis demonstrate concrete commercial progress, validated partnerships, and expanding revenue bases across diverse applications. Investing in graphene companies requires differentiated research distinguishing genuine commercialization progress from speculative positioning, yet for investors willing to conduct thorough due diligence, the sector offers exposure to transformative materials addressing critical global challenges across energy, transportation, and advanced manufacturing.

As graphene moves from laboratory curiosity to industrial commodity, early-stage investors in leading public companies may position themselves advantageously to benefit from accelerating adoption curves and expanding addressable markets. The guide to investing in graphene presented here provides a foundation for deeper investigation into individual companies and their respective commercial prospects.