|June 04, 2019|
Graphene 3D Lab enters into Research Agreement with Singaporean Company to Develop Graphene Composite for Marine Vessels
|June 4, 2019 -- 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 Research and Development Agreement ("Agreement") with a Singaporean company ("Partner") to develop a graphene-based composite material to be used in the manufacturing of marine vessels.|
For the scope of this Agreement, GL will complete research to develop a graphene-based additive for the resin that is routinely used in manufacturing marine vessels and marine structures. The goal of this research project is to use the unique properties of graphene to improve the performance of the glass and carbon fiber composites that are used in the often harsh marine environment.
Daniel Stolyarov, CEO of Graphene 3D, stated: "This Agreement is consistent with the Company's commitment to working with industry partners on new graphene applications and commercialization opportunities that have the potential to result in significant manufacturing, licensing or royalty agreements in the future." Mr. Stolyarov added, "We are in a great position to complete this project as we have developed a unique expertise over previous years developing new graphene-based formulations. Materials for marine applications are a rapidly changing and fast-growing field. There is significant potential to drastically change the shipbuilding industry through the replacement of wood with composite materials. We feel we are in the right position to be part of a new material revolution and are excited to be involved."
As per the Agreement, GL will receive up to SGD$161,400 for the research work, paid on a milestone basis. GL will receive an advanced payment of SGD$32,300 immediately. The term of the agreement is set for two years, but the Company anticipates finalizing this research project faster. GL will disclose the composition of the formulation and transfer the IP rights to the Partner once all payments are received. Upon successful completion of the research work, GL and its Partner will evaluate business opportunities for the new formulation. GL will be given priority consideration for any manufacturing contracts that might arise from new Partner sales using the new formulation, subject to both parties reaching acceptable manufacturing terms.
GL will be free to use the formulation for all other product applications outside those for marine vessels and/or marine structure applications ("Field of Use"), free of any royalty obligations. GL will also be granted a non-exclusive, perpetual license to use the formulation within the Field of Use, given GL pays a 4% royalty on revenues to the Partner on any Field of Use business generated with other parties.
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
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) 405-5118
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