(“Graphene 3D”) and Graphene Laboratories Inc. are pleased to announce they have signed a research, development and royalty agreement (“Agreement”) with a Fortune 500 listed manufacturer. Initially, the Agreement encompasses the development of multi-phased deliverables over the course of the next 12 months. For competitive reasons and pursuant to confidentially clauses contained with the Agreement, neither specific research objectives nor the identity of the Agreement partner can be publically disclosed. Upon successful completion of the research phase, and subject to approval by the U.S. Food & Drug Administration, the developed materials will become a part of a consumer retail product.
The Agreement calls for all research and development costs and royalty obligations to be paid by the partner, as well as a first-right-of-refusal for supply of any graphene related materials in future manufacturing pertaining to Intellectual Property (IP) developed under the agreement. All IP developed under the scope of the Agreement will be jointly held by both parties. The partner has consecutively been included in the Fortune 500 list for over 15 years.
“Graphene is a complex and amazingly functional material with properties that provide unique advantages in a wide variety of manufacturing situations. We expect graphene to become a common ingredient in large-scale manufacturing, and the agreement announced today will likely be a common first-step for traditional manufactures,” said Elena Polyakova Co-CEO of Graphene 3D. “Manufacturers want the benefits of graphene, but it is a highly-specialized material. We are helping partners develop solutions and processes to incorporate graphene into their existing manufacture processes.”
“Our lab team will assist our partner to understand, handle and integrate graphene into future manufacturing,” added Daniel Stolyarov, Co-CEO of Graphene 3D. “We are not just replacing other additives with graphene, we are working jointly with our partners to elevate the potential of their products. Product expertise from our partners, graphene expertise from our lab – the results is new products that can do more than before.”
Research and development work will be completed by personnel from both Graphene 3D and Graphene Lab. Graphene 3D is in the late stages of acquiring Graphene Lab in an all-share, non-arms length transaction expected to close prior to the end of 2016, subject to approval from the TSX-V (See New Release dated: August 12, 2015). “Bringing Graphene Lab into Graphene 3D creates value for our existing shareholders by expanding the scope of commercial applications Graphene 3D can provide.” stated Stolyarov. “Combining these two entities give us much broader expertise to support existing manufactures.”
This news release is intended to fulfill all compliance, regulatory and TSX-V Exchange obligations relating to the disclosure of material news.
About Graphene 3D
Graphene 3D Lab is in the business of developing, manufacturing, and marketing proprietary graphene-based nanocomposite materials for various types of 3D printing, including fused filament fabrication. The Company is also involved in the design, manufacture, and marketing of 3D printers and related products for domestic and international customers.
The Graphene 3D Lab facility is located in Calverton, NY and is equipped with material processing and analytical equipment. The company has four US patent applications pending for its technology. For more information on Graphene 3D Lab, Inc., visit www.graphene3dlab.com.
About Graphene Laboratories
Graphene Laboratories Inc. (“GLI”) is incorporated under the laws of the Commonwealth of Massachusetts, and is controlled and managed by Daniel Stolyarov and Elena Polyakova, insiders of Graphene 3D. GLI., a leader in manufacturing and retailing of graphene and advanced materials owns the Graphene Supermarket(r), www.graphene-supermarket.com, a leading supplier of such products to customers around the globe. Graphene Laboratories client list is comprised of more than 8,000 customers worldwide, including nearly every Fortune 500 tech company and major research university. Some notable clients are: NASA, Ford Motor Co., GE, Apple, Xerox, Samsung, Harvard University, IBM and Stanford University. For the last fiscal year ending December, 2014, GLI recorded annual revenues of in excess of USD $1,000,000 and was cash flow positive. Moreover, GLI has no material debt, and only trade creditors.
According to prior announcement dated August 12, 2015, the Graphene 3D has entered in non-arm length share exchange agreement (the “SEA”) to acquire all issued and outstanding shares of Graphene Laboratories. The terms of the Share Exchange are subject to confirmation by a fairness opinion prepared by an independent business valuator, an audit of GLI’s financial statements, the approval of the independent directors of the Company, and the acceptance for filing by the TSX Venture Exchange. Prior completion of the transaction, the financial record of GLI does not appear in published filing statements of Graphene 3D.
For further details concerning the Transaction, please see the Company’s filing statement on SEDAR (www.sedar.com) under the Company’s profile.
Except for statements of historical fact, all statements in this press release, including, but not limited to, statements regarding future plans, objectives and payments are forward-looking statements that involve various risks and uncertainties.
For more information, please contact:
Co-Chief Executive Officer
Telephone: (631) 405-5116
Telephone (631) 405-5114