Michigan State University’s subsidiary XG Sciences has signed multiple agreements with POSCO, a Korea-based company that produces steel on a large-scale, to establish a strategic partnership to improve the production of graphene and develop products based on proprietary technologies of XG Sciences.
XG Sciences produces xGnP graphene nanoplatelets, a cost-effective material that is useful in increasing the performance and strength of various materials such as batteries, plastics, and electronic parts.
Under the terms of the agreements, POSCO will buy 20% shares of XG Sciences and receive manufacturing licenses to produce and market xGnP graphene nanoplatelets. Both companies will work together to develop products required for energy storage, electronics and advanced materials.
XG Sciences received a Nano 50 Award from NanoTech Briefs, an online magazine that studies about accomplishments in micro electro-mechanical systems (MEMS) and nanotechnology. The Nano 50 Awards recognizes the top 50 innovators, products and technologies that have made or shall make a noteworthy impact in the nanotechnology industry.
POSCO, a leading steel producer, serves a worldwide group of subsidiaries in construction, energy, mining, materials, and logistics markets. POSCO has recently declared a capital investment program at $30 billion as part of its expansion operations.