|December 14, 2017|
Graphene 3D Lab is Awarded $500,000 Grant from the State of New York
|December 14, 2017 -- Calverton, NY -- Graphene 3D Lab Inc. (TSXV: GGG, OTCQB: GPHBF) ("Graphene 3D" or the "Company") is pleased to announce that a grant of $500,000, awarded to the Graphene Laboratories Inc, a wholly owned subsidiary of the Company, by Long Island Regional Economic Development Council ("LIREDC") to help financing the renovation of the company's new facility at Ronkonkoma, has been supported by the State of New York. The grant will also finance the acquisition of new equipment for the facility.|
Early this year, the company was included in the strategic plan for economic development growth within the region prepared by LIREDC, titled "A Region in Motion". In this document, LIREDC named relocation and expansion of production capacity of Graphene Laboratories Inc. as one of the priority projects recommended to receive financial support from the State of New York. This strategic plan was supported by New York State as confirmed in an announcement by Governor Andrew M. Cuomo during an Award Ceremony that was held in the city of Albany on December 13, 2017. The Long Island Region was identified as a Top Performer. and New York State awarded the Long Island Region $83.3M to fund the projects listed in the plan recommended by the LREDC. The Grant received by the Company is a part of this award.
When announcing the award, Governor Cuomo said: "These awards are critical to building the foundations for New York's future and ensuring that our economic momentum continues. I congratulate each of the Councils on their awards and look forward to continuing to partner to keep our communities vibrant and thriving for years to come."
Additional information on the award could be found on the web site of the Governor office:
The project or relocation and business expansion project is listed under the CFA# 72614 on the page 135
The additional information about the LIREDC's strategic development plan for economic growth, "A Region in Motion" could be found on LIREDC's web site:
https://regionalcouncils.ny.gov/sites/default/files/regions/longisland/LIREDC2017StrategicPlanfnl.pdf The company is listed on the pages 40, 73 and 84
About Graphene 3D Lab, Inc.
Graphene 3D Lab, Inc. is a world leader in the development, manufacturing, and marketing of proprietary composites and coatings based on graphene and other advanced materials. These diverse materials have a wide spectrum of commercial, research, and military applications. The Company's wholly owned subsidiary, Graphene Laboratories Inc., currently offers over 100 graphene and related products to a client list comprised of more than 12,000 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. The Company's suite of products is available online at the company's e-commerce platform (Graphene Supermarket).
The 3D printing division of the Company offers a portfolio of 3D printable filaments. These materials can be purchased through multiple distribution networks worldwide or directly from the web-store BlackMagic3D.
Adhesive materials produced by the company are distributed under G6-EpoxyTM trade name and can be purchased at G6-Epoxy.com.
The Graphene 3D facility is located in Calverton, NY and is equipped with material processing and analytical equipment. The company has eight US patent applications pending for its technology. For more information on Graphene 3D Lab Inc., visit www.graphene3dlab.com
ON BEHALF OF THE BOARD: Daniel Stolyarov, President & Co-CEO
Co-Chief Executive Officer
Telephone: (631) 405-5113
Investor Relations Coordinator
Telephone (631) 405-5114
FORWARD LOOKING INFORMATION
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
You can return to the main News page, or press the Back button on your browser.