MONTREAL, May 12, 2022 (GLOBE NEWSWIRE) — NanoXplore Inc. (“NanoXplore“or the”society”) (TSX: GRA and OTCQX: NNXPF) announces that it has entered into a long-term supply agreement with Casting Products LLC to produce and sell a graphene-enhanced (“SMC”) sheet molding compound called GrapheneBlack™ SMC, used to create high-quality lightweight composite exterior and battery case parts for cars and trucks, such as cowlings , bumpers, roofs and batteries. GrapheneBlack™ SMC offers up to 15% weight reduction over typical composite parts while improving surface finish, paintability and crack resistance. Under the terms of the agreement, the two companies can market and sell SMC’s new premium grade under the trade name NanoXplore. Weight reduction is becoming increasingly important to the transportation industry, particularly because electric vehicles are generally heavier than internal combustion engine vehicles and range anxiety could be resolved by reducing vehicle weight. Additionally, lightweight sheet molding composites are increasingly being used in electric vehicle batteries, which would be complementary to the NanoXplore battery business.
The agreement with NanoXplore guarantees a competitive and localized supply of high quality graphene to produce GrapheneBlack™ SMC as well as R&D support for the development of new grades of graphene-enhanced products. NanoXplore is the world’s largest manufacturer of durable, high-quality and cost-effective graphene with an annual production capacity of 4,000 metric tons in Montreal, Canada.
Troy Wade, President of Molding Products, said:
“This is a great opportunity to advance Molding Products’ SMC technology as we seek to further expand into the transportation market. By combining NanoXplore Graphene with our own proprietary SMC technology, we can achieve significant weight savings with superior properties for the end user application.
Soroush Nazarpour, President and CEO of NanoXplore, commented:
“I am very pleased that our graphene and graphene composite products have passed the rigorous qualification process for the transportation market. The alliance with Molding Products brings graphene-enhanced composite products to exterior parts and battery boxes in the passenger vehicle market as well as heavy-duty vehicles and buses. The resulting weight reduction translates into longer range for electric vehicles and can be used in other transport segments such as trains and planes.
About NanoXplore Inc.
NanoXplore is a graphene company, manufacturer and supplier of high volume graphene powder for transportation and industrial markets. The Company provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics and other industrial sectors. NanoXplore is headquartered in Montreal, Quebec, and has manufacturing facilities in North America and Europe. Please visit www.nanoxplore.ca.
About casting products
Based in South Bend Indiana, Molding Products LLC, an operating business of IP Corporation, provides sheet molding composites to the growing compression molding industry with a focus on providing custom formulated molding compounds and industry-leading for a wide variety of industries and applications.
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