- NanoXplore (GRA) has signed a long-term supply agreement with Molding Products LLC to produce and sell GrapheneBlack SMC
- GrapheneBlack SMC is used to create high quality, lightweight composite exterior and battery enclosure parts for cars and trucks
- GrapheneBlack SMC delivers weight reduction of up to 15 per cent
- NanoXplore is a manufacturer and supplier of graphene powder
- Molding Products supplies sheet-molding composites to the compression molding industry
- Shares of NanoXplore Inc. were up 1.176 per cent, trading at $2.58 at 3:52 PM ET
NanoXplore (GRA) has signed a supply agreement with Molding Products LLC.
Under the terms of the agreement, both companies can market and sell the new premium grade of SMC under the NanoXplore trade name.
GrapheneBlack SMC is used to create high-quality, lightweight composite exterior and battery enclosure parts for cars and trucks, such as hoods, bumpers, roofs, and battery packs.
GrapheneBlack SMC delivers weight reduction of up to 15 per cent vs typical composite parts while also improving surface finish, paintability, and crack resistance.
Weight reduction is becoming increasingly important for the transportation industry, particularly because electric vehicles are generally heavier than internal combustion engine vehicles and range anxiety could be addressed by reducing the weight of the vehicles.
Furthermore, lightweight sheet-molding composites are being used increasingly in electric vehicle battery packs that would be complementary to NanoXplore battery-related activities.
The agreement with NanoXplore secures a competitive, localized supply of high-quality graphene to produce GrapheneBlack SMC as well as R&D support for the development of new graphene-enhanced product grades.
“This is a great opportunity to advance Molding Products’ SMC technology as we look to expand further into the transportation market space,” said Troy Wade, President of Molding Products.
“The alliance with Molding Products introduces graphene-enhanced composite products into exterior and battery enclosures parts of the passenger vehicle market as well as heavy commercial vehicles and buses,” stated Soroush Nazarpour, President and Chief Executive Officer of NanoXplore.
“The resulted weight reduction translates into longer range for electric vehicles and can be used in other transportation segments such as trains and planes,” he added.
NanoXplore is a graphene company, a manufacturer and supplier of graphene powder for use in transportation and industrial markets.
Molding Products LLC is an operating business of IP corporation which supplies sheet-molding composites to the compression molding industry.
The shares of NanoXplore Inc. were up 1.176 per cent, trading at $2.58 at 3:52 PM ET.
