|January 03, 2019|
Graphene 3D Lab extends Technology Transfer Agreement and receives Royalty Payment
|January 3rd, 2019 -- Ronkonkoma, NY -- Graphene 3D Lab Inc. (TSXV: GGG, OTCQB: GPHBF) ("Graphene 3D" or the "Company") is pleased to provide shareholders with an update on the progress of the Company's Technology Transfer Agreement (the "Agreement") between Graphene Laboratories, Inc. ("GL"), a wholly owned subsidiary of Graphene 3D Lab Inc. and a multinational manufacturer ("Partner") that produces advanced materials including: pharmaceutical, packaging, household, and several industrial materials (see press release published on March 28th, 2018). Graphene Laboratories has received the next royalty payment in the amount of US$92,500 and has agreed to extend the term of the Agreement for 90 days to provide additional time required to complete the manufacturing process. An additional $60,000 payment to the Company is expected once the extended agreement term is completed. |
GL's Partner is manufacturing an advanced material (the "Product") at one of its European facilities utilizing GL's technology ("Technology"). GL assisted the Partner with the technical aspects of the implementation of the Technology in the industrial setting and at this moment GL has fulfilled its contractual obligation as per the Agreement. However, the Company has committed to provide further technical support to the Partner on as needed basis during the extended term of the Agreement.
The Product made in this production campaign will be subjected to third party testing and evaluation. If the tests yield a positive outcome, the Product will be manufactured on a large scale and GL's Technology will be a valuable component of the overall manufacturing process. GL retains ownership of its Intellectual Property ("IP") rights and will continue evaluating potential methods to generate revenue from the IP. The Company will explore further potential licensing and royalty arrangements, or a complete sale of its IP, as the Company looks to build its partnership network and secure accretive transactions.
"Graphene 3D is focused on innovation. Over the course of the last several years, our Company has put a lot of effort into the creation of our comprehensive IP portfolio," said Daniel Stolyarov, CEO of Graphene 3D. "This Agreement is a major milestone toward commercializing our existing IP. We are helping our Partner to adopt the technology thereby increasing the value of our IP. Licensing our IP has the potential to be a lucrative approach for our Company. The Company's mission is to provide our customers with turnkey solutions to enhance their materials and we are excited to share our expertise and provide assistance in the process to ensure successful implementation of our patented technology. We are aiming to deliver new agreements in 2019 and 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:
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 (Graphene-Supermarket.com
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 g6-epoxy.com
Fine Organic Chemicals: ChemApproachTM is a worldwide supplier of a wide variety of building blocks to R&D facilities in pharmaceutical and agriculture industries, academic institutions, biotechnology, 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 lies in the introduction of the various substituents to aromatic rings, a large variety of functional group transformations, and a selective incorporation of halogens in organic molecules, particularly, iodine. These classes of organic molecules have a wide range of application in drug-design, biochemistry, polymer chemistry, electronics and energy. ChemApproach.com
The Graphene 3D facility is located in 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: (631) 405-5114
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