Often taunted as a revolutionary material that could transform energy production and semiconductor efficiency, graphene is a unique arrangement of carbon atoms in an impossibly thin hexagonal lattice. Due to its high conductivity, durability, and strength, its potential use cases range from improved battery tech to nanofibers.
However, investing in graphene is not as straightforward as investing in nickel stocks, for example. The reason for this is that graphene production is relatively new, while industrial demand is still pretty low. This means that most graphene companies are not some megacorporations but rather highly specialized small to medium-cap companies.
In this article, we will highlight several graphene companies that should be on your shortlist if you are seeking to gain or increase your market exposure to graphene products and manufacturing processes.
List of the best graphene stocks to buy in 2024:
CVD Equipment (NASDAQ: CVV)
Nouveau Monde Graphite (NYSE: NMG)
Graphene Manufacturing Group (OTCMKTS: GMGMF)
HydroGraph Clean Power (OTCMKTS: HGCPF)
First Graphene Limited (OTCMKTS: FGPHF)
What is graphene used for?
Graphene, often referred to as a “super material”, is a hexagonal-shaped amalgamation of carbon atoms arranged in a single layer. Due to graphene’s unique properties, it has numerous use cases across many industries. Let’s highlight some of the most prominent ones:
Electronics and semiconductors: High electron mobility and conductivity enable the production of more efficient electronic devices.
Energy storage: High conductivity increases the charging times of batteries and increases their lifespan. Grapnehe is one of the materials used in “forever batteries”.
Composites: Graphene can be added to metals, ceramics, and other materials to increase their strength and provide corrosion resistance.
The best graphene stocks to buy in 2024
In the following sections, we will examine some of the leading companies in the graphene product development and graphene manufacturing business.
1. CVD Equipment
CVD Equipment (CVV) is a company focusing on the chemical vapor deposition method, which is used to produce high-performance solid materials. Materials that can be produced using the CVD method include nanofibers, nanotubes, diamond, and graphene. While the company saw a dip in stock price and reported a 43.4% year-over-year decline in revenue in the first quarter of 2024, the company saw an increase in the number of orders in the time period, largely driven by the aerospace industry demand.
Founded: 1982
Stock symbol: NASDAQ: CVV
Market cap: $28.3 million
2. Nouveau Monde Graphite
Nouveau Monde Graphite (NMG) is a Canadian-based developer of graphite-based materials. The main goal of the company is to support the development of green energy technologies and solutions, which could lead to a zero-carbon economy. According to the financial statement released at the end of March 2024, the company increased its assets to $94 million CAD, up from $43 million CAD at the end of 2023, which speaks to its growth potential.
Founded: 2012
Stock symbol: NYSE: NMG
Market cap: $229 million
3. Graphene Manufacturing Group
Graphene Manufacturing Group is a Canadian manufacturer of graphene used mostly in paints, coolants, and lubricants. One of the most exciting things GMG is working on is the graphene aluminum-ion battery, which was developed in collaboration between GMG, The University of Queensland Research, and UniQuest. According to GMG, the new battery technology will give up to 3 times longer battery life and charge up to 70 times faster than leading Lithium-Ion Battery technology.
Founded: 2016
Stock symbol: OTCMKTS: GMGMF
Market cap: $46.8 million
4. HydroGraph Clean Power
HydroGraph Clean Power holds several nanotechnology patents related to the production of graphene-based products. The company deals with fractal graphene, which is used in energy storage, biosensors, and lubricants, and reactive graphene, which is used in medicine, biotechnology, composites, and functional coatings. In the past year, the company’s stock saw a significant increase, gaining 63%, which is more than any other company that specializes exclusively in graphene production.
Founded: 2017
Stock symbol: OTCMKTS: HGCPF
Market cap: $27.8 million
5. First Graphene Limited
First Graphene Limited is headquartered in Australia and is a self-proclaimed leading supplier of high-performing graphene products. Products developed by First Graphene offer improved strength, flexibility, and durability in plastics and elastomers. In addition, nanoplatelet by First Graphene additives enhance strength and resistance in composites and coatings. In the quarter ending in December 2023, the company reported a 10.2% YoY increase in revenue and an 8.6% increase in net profit margin.
Founded: 1920
Stock symbol: OTCMKTS: FGPHF
Market cap: $27.5 million
The bottom line
Investing in graphene stocks could be a solid play if you believe that graphene production and demand will significantly pick up in the future. And there’s a solid argument to be made that it will. According to Statista, the market value of graphene in North America will increase from $136.5 million in 2023 to $1.5 billion in 2024.
If you are looking for additional investments related to graphene, we suggest you look into the best lithium stocks. After all, both lithium and graphene are core materials used in new batteries used in EVs and portable electronics.