NanoXplore Announces Purchase Order From Martinrea International Inc. for Passenger Vehicles
MONTREAL, Nov. 12, 2020 (GLOBE NEWSWIRE) — NanoXplore Inc. (“NanoXplore” or the “Corporation”) (TSX-V: GRA and OTCQX: NNXPF) is pleased to announce that on October 27, 2020, it received a blanket purchase order from Martinrea International Inc. (“Martinrea”) (TSX: MRE) to supply graphene for fuel and brake lines for passenger vehicles produced by North American automotive Original Equipment Manufacturers (“OEM”). These graphene-enhanced products were tested and approved by OEMs and demonstrate significant lifetime improvements in comparison with existing solutions in the market. These parts will be supplied to OEMs by Martinrea within already-awarded multi-year fuel and brake line supply programs.
Soroush Nazarpour, President & CEO of NanoXplore, commented:“After a long development process, I am very pleased that our graphene will be introduced to passenger vehicle programs in early 2021. This is an important achievement for NanoXplore and its business, as entering into such applications and supplying world-class OEMs demand a high standard of quality. The transportation market is actively looking for sustainable, innovative, and cost-effective solutions and I am happy that our graphene addresses these needs.”About NanoXplore Inc.NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in industrial markets. The company provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. NanoXplore is headquartered in Montreal, Quebec with manufacturing facilities across Canada, the United States and Europe.Forward-looking StatementsThis press release contains forward-looking statements. All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumption was made and on management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors deemed appropriate in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Forward-looking statements are not facts, but only predications and can generally be identified by the use of statements that include phrases such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “foresee”, “grow”, “expect”, “plan”, “intend”, “forecast”, “future”, “guidance”, “may”, “predict”, “project”, “should”, “strategy”, “target”, “will” or similar expressions suggesting future outcomes .Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause NanoXplore’s actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. Any forward-looking information is made as of the date hereof and, except as required by law, NanoXplore does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.For more information, please contact:Soroush Nazarpour
President & CEO