XG Sciences, Inc. (“XGS”) has announced that it has entered a memorandum of understanding to participate in developing advanced composites in China based on its xGnP® graphene nanoplatelets.
New Graphene Applications Development Center
The Agreement strengthens the on-going relationship among the parties through creation of the Graphene Applications Development Center (GADC), a joint venture company between Sinochem Plastics Co., Ltd. (“Sinochem”) and Yuyao PGS New Material Technology Co., Ltd. (“PGS”) in the Sino-Italy Ningbo Ecological Park in Yuyao City. The parties recently partnered to bring new graphene enhanced anti-corrosion coatings to industrial and marine applications.
Under the Agreement, graphene-enhanced thermoplastic composites will be developed by GADC and will exclusively leverage graphene nanoplatelets produced by XGS. The parties target a range of thermoplastic materials and end-use markets including automotive, industrial and consumer items such as clothing. Products resulting from the collaboration will be manufactured and sold in China through Sinochem and PGS.
Creating New Platform of Materials
“We are pleased to be able to partner with Sinochem and PGS to further leverage the performance of our materials in new advanced composite applications”, said Dr. Philip Rose, Chief Executive Officer, XG Sciences. “This activity further supports the value of our product offering on the international stage and allows XGS to strengthen our relationship with both Sinochem and PGS and leverage their market reach for our products in the important China market”, Dr. Rose further added.
“We have been supporting XGS in the China market since 2015”, said Dr. Shi Yan, President, Yuyao PGS New Material Technology Co., Ltd., “and we are excited to now combine our efforts with Sinochem Plastics under the Graphene Applications Development Center umbrella to create a new platform of materials.”