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  • Martinrea International (MRE) is partnering with NanoXplore
  • The companies are forming a joint venture to develop Electric Vehicle (EV) batteries enhanced with graphene
  • The venture aims to support the movement towards a sustainable, low-carbon future and zero-emission EVs
  • The joint venture is known as VoltaXplore and expects to open a demonstration facility in Montreal within the next year
  • Martinrea is up 7.14 per cent on the day, with shares of the company trading at $13.65 at 11:54 am ET

Martinrea International (MRE) is partnering with NanoXplore.

The companies are forming a joint venture to develop Electric Vehicle (EV) batteries enhanced with graphene. The venture aims to support the movement towards a sustainable, low-carbon future and zero-emission EVs.

Martinrea is a global automotive supplier engaged in the design, development and manufacturing of highly engineered lightweight structures and propulsion systems while NanoXplore is a graphene producer.

The joint venture will officially be known as VoltaXplore. It expects to open a demonstration facility in Montreal within the next year for the development and production of EV batteries enhanced with graphene.

A successful demonstration of improved battery performance using graphene, along with positive feedback will support the business case for the construction of a full-scale battery production facility in Canada.

“Martinrea is a strong supporter of graphene, helping to bring it to market in various ways. We have been a long-time partner of NanoXplore and are excited to collaborate on enhancements graphene will bring to battery technology. Graphene will be a differentiator by improving charge time and vehicle distance, ultimately bringing solid-state battery technology to market sooner. Combining our advanced lightweight technologies with graphene-enhanced batteries is a big step forward in the EV space,” said Martinrea International President and CEO Pat D’Eramo.

Martinrea and NanoXplore will each initially invest C$4 million into the joint venture as start-up capital and to support the construction facility, with each committed to providing up to an additional $6 million in development funding if and when required.

Martinrea is up 7.14 per cent on the day, with shares of the company trading at $13.65 at 11:54 am ET.

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