NanoXplore - President and CEO, Soroush Nazarpour (left)
President and CEO, Soroush Nazarpour (left)
Source: NanoXplore
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • NanoXplore (GRA) has acquired a significant portion of the assets of XG Sciences Inc. in a sale conducted by XG’s senior secured creditor
  • NanoXplore and the senior creditor entered into an asset-purchase agreement for NanoXplore to acquire XG’s mechanical milling platform, research and development lab and all issued and pending patents and trademarks, among other items
  • The payment for this transaction is in cash without any share issuance
  • The company ceased operations in July
  • NanoXplore Inc. is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in transportation and industrial markets
  • NanoXplore Inc. rose 2.778 per cent, trading at $4.07 as at 10:14 AM ET

NanoXplore (GRA) has acquired a significant portion of the assets of XG Sciences in a sale conducted by XG’s senior secured creditor.

NanoXplore and the senior creditor have entered into an asset-purchase agreement for NanoXplore to acquire XG’s mechanical milling platform, research and development lab and all issued and pending patents and trademarks, among other items.

The payment for this transaction is in cash without any share issuance.

XG Sciences specialized in producing graphene nanoplatelets for diverse applications such as Lithium-ion battery anode materials, automotive, packaging, composites, concrete, and other industrial markets.

The company ceased operations in July.

“XG has been a respected competitor of ours for years, and the integration of their assets will further support the growth of NanoXplore,” stated Soroush Nazarpour, President and CEO, NanoXplore.

“This acquisition accelerates our participation in the battery material space and significantly increases our intellectual property related to graphene and graphene-enhanced battery materials,” he added.

Following this transaction, NanoXplore now owns all patents and patent applications including a portfolio of 7 patents (6 issued and 1 pending) of silicon-graphene battery materials and all XG trademarks.

Moreover, NanoXplore is planning to use these assets to build a silicon-graphene anode material facility with a production capacity of 100-200 tons per year during 2023.

As demonstrated by the XG Sciences asset purchase transaction, NanoXplore is seeking to expand and accelerate its downstream market access in the attractive battery anode material market.

NanoXplore Inc. is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in transportation and industrial markets.

NanoXplore Inc. rose 2.778 per cent, trading at $4.07 as at 10:14 AM ET.


More From The Market Herald

" CanXGold (TSXV:CXG) drilling copper target

CanXGold Mining Corp. (CXG) announced that drilling has begun at its Phoenix Property at the Greenwood Precious Metals project in B.C.
Canada Silver Cobalt Works Inc. - CEO, Frank J. Basa.

" Canada Silver Cobalt (TSXV:CCW) processing metal for EV client

Canada Silver Cobalt Works (CCW) will process two tonnes of mineralized material from the Castle and Beaver Mines for a South Korean client.

" Nevada Lithium (CSE:NVLH) and Iconic Minerals (TSXV:ICM) update on JV

Nevada Lithium Resources (NVLH) and Iconic Minerals (ICM) have updated their 2022 exploration plans for the Bonnie Claire Lithium Project in Nevada.
Methanex Corp.

" Methanex (TSX:MX) appoints new President and CEO

Methanex (MX) has appointed Rich Sumner as President & Chief Executive Officer and member of the Board of Directors, effective January 1, 2023.