Cellulair’s scope soars after successfully raising $240,000
CelluAir has recently completed its first capital raise of $240,000. The funds are to be used to complete further research and testing.
The first scope of research has had three major areas of work;
1. Formulation Optimisation - Two materials have showed high potential and are under going further testing.
2. Application of Nano-Cellulose - The ability to produce consistent and repeatable materials is critical so that sample quality does not change from batch to batch.
In parallel to the laboratory test work, a rig has been designed to demonstrate that the material can be produced uniformly using industrial equipment.
3. Toll Manufacturer Testing – This has been delayed with COVID-19.
We are continuing to meet with a range of potential partners and are confident that the project will be ready for market in align with its current business plan.