Update on Commercial Graphene Facility
MONTREAL, Jan. 16, 2020 (GLOBE NEWSWIRE) — NanoXplore Inc. (“NanoXplore” or the “Corporation”) (TSX-V: GRA and OTCQX: NNXPF) is pleased to provide an operational update on its new commercial graphene facility in Montreal (Ville St-Laurent), Province of Quebec, including:
Project Construction Update;Capital Expenditures (“CapEx”) Update;Operating Expenditures (“OpEx”) Update; andGraphene Commercial Update.Project Construction UpdateNanoXplore’s new graphene production facility (located at 4500 Thimens Blvd, Montreal (Ville St-Laurent), Province of Quebec) is currently housed within an existing 70,000 square foot building. All major equipment has been delivered and secured in their physical location within the facility. Mechanical and electrical connections of the equipment are ongoing and are expected to be completed by early February. Hydro-Québec has provided all power requirements for the commercial production of our 4,000 metric tons/year capability graphene production facility. The new graphene facility will be a fully automated production plant that will enable a connected and flexible manufacturing system.The facility will also become NanoXplore’s new Corporate Headquarters on January 20th, 2020. Extensive renovations have been made to house all existing and future Corporate and Carbon Technology employees. In parallel with additions to our Production team, key Corporate positions have also been filled to help facilitate growth, including but not limited to the placement of a Global IT Director and a Global HR Director.Mr. Rocco Marinaccio, COO of NanoXplore, commented:“It has been an extremely busy six-month period for the Operations team, but I’m delighted to report that all major equipment for our 4,000 metric tons/year commercial graphene initiative has been delivered and we remain on-time and below budget for the project. Focus will now shift to the integration of the equipment with scheduled commissioning to start during February of this year. This is a significant milestone for the Corporation, and I would like to take this opportunity to personally thank all of our employees for their hard-work and commitment and to our contractual partners for their dedicated assistance.”CapEx UpdateNanoXplore is pleased to confirm that the CapEx associated with the building-out of the graphene production facility remains below the original scheduled budget. This includes, but is not limited to, all costs associated with the purchase and delivery of equipment, building modifications, auxiliary equipment, spare parts, and automation. Commissioning of the plant will begin in early February 2020 with the ramp-up period of production to start from April this year.OpEx UpdateThe Corporation previously announced that the new graphene facility layout has been fully optimized. This optimization will allow NanoXplore to build its 4,000 metric tons/year of graphene production line in a much smaller footprint than originally designed. This will enable the Corporation to use the remaining space for other purposes, such as warehousing, compounding and mixing, and the addition of another graphene production line. In conjunction with the installation of the equipment, we expect to receive our first delivery of small-mesh natural flake graphite at the end of January 2020 for the commissioning of the plant.The Corporation has also been successful in solidifying the technical design of its 4,000 metric tons/year proprietary graphene batch-production process. This production module can now be easily replicated for any future expansion project. These decisions were taken in order to minimize the cost involved in the engineering of any future production lines and to avoid any potential risk from further scale-up activities. This standardization of the production line will result in a quicker turn-around in future graphene line additions and will enable NanoXplore to address market demands quickly.Graphene Commercial UpdateNanoXplore’s Sales team continues to make significant strides as graphene becomes a viable solution for high-volume commercial applications. The Corporation’s focus is to replace current carbon-based additives within the thermoset and thermoplastic market by offering standardized products and solutions in powder and masterbatch formats. Focus of the Corporation’s efforts will now shift to obtaining purchase orders for our graphene products within the next six months. NanoXplore continues to engage with large original equipment manufacturers (OEMs) and potential partners within various industries, such as industrial products, automotive, wires and cables, pipe, packaging, and sporting goods, to provide a more-enhanced solution to that of traditional additives.NanoXplore’s ability to provide industrial volume of graphene at an affordable cost is the key that unlocks the development of the graphene market, resulting in a market shift from a technology-push to a market-pull. This shift is already underway and will help the successful commercialization efforts done by the Corporation.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 North America and Europe.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.Forward-Looking StatementsThis press release contains express or implied forward-looking statements within the meaning of applicable securities laws (“forward-looking statement”), which are based on current expectations of management. These forward-looking statements relate to, among other things, our expectations regarding management’s plans, objectives, and strategies. 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All such statements speak only as of the date made, and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.For more information, please contact:NanoXplore Inc.
Chief Commercial Officer