|March 29, 2018|
Graphene 3D Lab Enters into Technology Transfer Agreement to Commercialize Company's Intellectual Property
|March 29, 2018 -- Ronkonkoma, NY -- Graphene 3D Lab Inc. (TSXV: GGG, OTCQB: GPHBF) ("Graphene 3D" or the "Company") is pleased to announce that the Company's wholly-owned subsidiary Graphene Laboratories ("GL" or "Subsidiary") has entered into a Technology Transfer Agreement ("Agreement") with a multinational manufacturer ("Industrial Partner" or "Partner") producing advanced materials with uses in the pharmaceutical industry.|
The Industrial Partner will manufacture a certain advanced material at one of its European facilities utilizing GL's technology. GL will assist with the first production campaign and provide guidance related to technical details of the process to facilitate adoption of the technology by the Partner. The material produced as a result of this production campaign will be subjected to third party testing and evaluation. If the tests yield positive outcome, GL expects that this technology will be used for large-scale production in the future.
The Company agreed to grant a limited-time exclusive license to the Industrial Partner for the material manufacturing within this production campaign. GL retains ownership of its Intellectual Property ("IP") rights and may further benefit from it either through further licensing and royalty payment or sale of IP.
GL expects to receive a total of US $202,500 in royalty payments and US $7,000 for miscellaneous expenses. The Subsidiary will receive an advance payment US $57,000 within 30 days from the effective starting date of the Agreement. Further, GL will further expect to receive the final tranche of US $152,500 within 30 days upon successful completion of the project. The term of the Agreement is set to nine months.
"Graphene 3D is focused on innovations. Over the course of last several years, our Company has put a lot of effort into creation of comprehensive IP portfolio," said Elena Polyakova, CEO of Graphene 3D. "This Agreement is a major milestone to commercialize our existing IP. Licensing our IP is a lucrative business model for our Company. The mission of our Company is to provide our customers with turnkey solutions, and we are excited to share our expertise and provide assistance in the process of Technology Transfer to implement our technology in our Partner's facility. We aim to continue commercializing and expanding our technology portfolio."
About Graphene 3D Lab, Inc.
Graphene 3D Lab, Inc. is capitalizing on groundbreaking properties of graphene and other advanced materials. The company is offering high-tech solutions in several areas including:
Blockchain and Cryptocurrency Mining: The Company is developing innovative hardware for harvesting the heat generated by the cryptocurrency mining computational hardware and converting it into heating and/or refrigeration solutions.
R&D 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 14,000 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.
3D Printing: 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.com .
High Performance Epoxies: Adhesive materials produced by the company are distributed under G6-EpoxyTM trade name and can be purchased at www.g6-epoxy.com
Fine Organic Chemicals: ChemApproachTM is a worldwide supplier of a wide variety of building blocks to R&D facilities in pharmaceutical/agricultural industries, biotechnology, academic institutions, and Hi-Tech companies. This division of Graphene 3D Lab offers a plethora of the substituted aromatic and heterocyclic compounds. Most of these molecules can be further synthesized as medicinally relevant drug candidates. The production scale varies from grams to multi-kilograms quantities. The division's main expertise falls within the introduction of disparate substituents to aromatic rings, a comprehensive array of functional group transformations, and a selective incorporation of halogens in organic molecules, particularly, iodine. These classes of organic molecules have an extensive range of application in drug-design, biochemistry, polymer chemistry, electronics and energy. Please visit http://www.chemapproach.com/ for more details.
Graphene 3D facility is located at Ronkonkoma, 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
For More Information:
Co-Chief Executive Officer
Telephone: (631) 405-5113
Telephone: (647) 323-3361
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