Brazilian steelmaker Companhia Siderurgica Nacional (CSN) said it invested an undisclosed sum in a Singapore-based graphene start-up company known as 2DM. Graphene is a nano product that can be used into steel coating, steel welding, among other applications.
CSN’s move comes after Brazilian integrated steelmaker, Gerdau, launched a graphene-focused company through its business division, Gerdau Next, to focus on the civil construction, automotive, rubber, and other industrial segments.
CSN said the investment in 2DM was made through its innovation company, CSN Inova, while the transaction was carried out by CSN’s investing arm, CSN Inova Ventures.
Brazil has one of the world’s biggest graphene reserves. According to a media report by Brazil Journal, CSN is testing the product at its Presidente Vargas mill in the city of Volta Redonda, Rio de Janeiro state.