|July 18, 2019|
Graphene 3D Lab developing high-performance Graphene Composites ahead of schedule for Marine Vessels Research Project
|July 18, 2019 -- Ronkonkoma, NY -- Graphene 3D Lab Inc. (TSXV: GGG, OTCQB: GPHBF) ("Graphene 3D" or the "Company") is pleased to report on the R&D progress the Company has made pertaining to the recently announced (see press release June 4, 2019) agreement (the "Project") with a private Singaporean company ("Partner") to develop graphene-based composite materials for marine vessel applications.|
The Company has already passed an important milestone, completing 50% of the Project's set deliverables and has received the corresponding SG$64,900 payment for its successful work during the first phases of the Agreement. The advanced graphene-enhanced material developed by the Company exhibits outstanding performance. In addition to the improved strength of the resin, the graphene-enhanced epoxy shows a 14-fold improvement of the fracture toughness, and 20% less water absorption, making the service life of the new material longer than previously used formulations.
"We are really pleased with our progress thus far and are proud to be executing ahead of schedule with excellent performance metrics for the new material we have developed," said Daniel Stolyarov, CEO of Graphene 3D.
"The second half of this project will be dedicated to shaping our formulation and converting it into a value added solution with clearly defined application uses for our customer," Stolyarov added. "We are positioning the Company and leveraging our R&D strengths with the aim of securing major partnerships within large established industries that continue to grow and evolve."
The market for marine composites was an estimated US$3.64B in 2017 and is expected to grow with a CAGR of 5.6% per annum and reach more than an estimated US$5.0B by 20231 . Market growth is believed to be driven by the increasing demand for lighter and faster marine vessels with improved fuel efficiency. The Company believes that offering graphene-enhanced formulations with significantly improved performance for marine composites will allow the Company to aggressively enter this market.
So far, GL has received SDG$96,900 in total payments from its Partner. The Company expects to receive a total of SGD$161,400 upon completion of the Project. The term of the agreement is set for two years, but the Company anticipates finalizing this Project faster, as evidenced by the Company's progress to-date.
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) 405-5114
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.
1 MarketsandMarkets.com: Marine Composites Report, Global Forecast to 2023 -- published September 2018
You can return to the main News page, or press the Back button on your browser.