silverpig writes "It now appears that graphene has reached a point worthy of serious, direct industrial attention. The grant money itself comes from the European Union for the Future and Emerging Technologies (FET), but the work will be done by a large non-governmental company with eyes on developing useful real-world applications. Smartphones contain many components with high potential for making use of graphene. From the article: 'Nokia is leading the electronic firms within the Graphene Flagship Consortium, which includes 73 other companies and academic institutions from a number of mediums. The Finnish handset manufacturer has received a grant of $1.35 billion to research and develop graphene for practical applications, with the European Union for the Future and Emerging Technologies (FET) providing the grant itself.'"