Great Lakes Crystal Technologies (GLCT), a high-tech startup in Michigan’s Capitol Region, is pleased to announce that the company has secured over $500,000 in funding towards its planned $1M seed investment round which is slated to close by the end of June.
GLCT’s lead seed round investor is a global materials manufacturer with which GLCT has also signed a memorandum of understanding (MOU) to pursue one or more strategic partnership opportunities in the future.
GLCT is using the investment to establish its pilot production line for manufacturing high performance diamond materials at its headquarters in the Van Camp Incubator Center + Research Labs in East Lansing, Michigan. The pilot line is expected to be operational by the end of Q2’21 and will be used to demonstrate minimum viable products within H2’21.
Dr. Evans commented, “We are thankful to our investors for their support of our transition from a fabless operation towards becoming a fully integrated manufacturer of high performance diamond materials. We are also excited to enter into an MOU with our lead investor and have already begun discussing opportunities which leverage our respective organization’s strengths and growth plans.”
About Great Lakes Crystal Technologies (GLCT)
GLCT was formed in 2019 by MSU Professor Tim Grotjohn and industry veteran Keith Evans to create a commercial source of high-performance diamond materials for advanced (non-gemstone, non-abrasive) applications. GLCT’s technology is based on patented equipment and methods developed over 25 years at Michigan State University (MSU) including recently in collaboration with MSU-located Fraunhofer USA Center for Coatings and Diamond Technologies. Dr. Grotjohn serves as GLCT’s technical advisor, while Dr. Evans serves as its president & CEO.