Mr. Gary Economo reports
FOCUS GRAPHITE ANNOUNCES JV FOR GRAPHENE CATALYST DEVELOPMENTS BETWEEN GRAFOID INC. AND CVD EQUIPMENT CORPORATION
Grafoid Inc., in which Focus Graphite Inc. holds a 40-per-cent ownership stake, has executed a joint intellectual property development agreement with New Jersey-based CVD Equipment Corp.
Focus Graphite and Grafoid president and chief executive officer Gary Economo said the one-year renewable agreement utilizes both companies' scientific expertise to develop a catalyst material using Grafoid's graphene derivatives and carbon nanotubes.
Grafoid is a privately held Canadian corporation investing in graphene applications, and an economically scalable production process for meso-graphene and its graphene derivatives from raw, unprocessed graphite ore.
Mr. Economo said the agreement represents a major developmental step forward for Grafoid as awareness of its scientific accomplishments continues to broaden within the graphene community.
"As the single largest shareholder in Grafoid and on behalf of Focus Graphite shareholders, the agreement with CVD underscores the significance of Focus Graphite management's decision to venture into the realm of cutting-edge graphene technology. The strength of Grafoid's economically scalable mass-production process provides us with our long-term business platform for growth and expansion within our industry," Mr. Economo said.
Under the terms of the agreement, Grafoid will provide expertise to develop unique intellectual properties in partnership with CVD, including the identification and feasibility for creating new combinations of graphene with carbon nanotubes as a catalyst material.
The agreement executed is based on a 50/50 mutual agreement providing both parties with equal rights to share in jointly created intellectual properties and the ability to further the joint venture on additional terms.
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