NanoXplore Announces Closing of $25 Million Bought Deal Private Placement and Corporate Update - Seite 2

“We commend management’s ability to deliver on their graphene commercialization timelines to date,” said Jahangir Bhatti, Director, Cleantech Practice at BDC. “This raise will further support initiatives to accelerate market adoption of graphene-related products and allow NanoXplore to explore additional commercialization opportunities of their assets.”

Martinrea’s participation in the Offering further demonstrates the continual strategic relationship that exists with NanoXplore and how both companies will develop graphene-related solutions that will redefine products within the automotive space. “We continue to believe in the future of graphene in a broad range of applications and believe NanoXplore has made great progress in its development to date. We look forward to a great future.” said Pat D’Eramo, President and CEO of Martinrea.

In conjunction with the closing of the Offering, the Corporation would also like to announce that it will be extending its focus on graphene battery initiatives and plans to expand its in-house graphene compounding production capacity.

NanoXplore’s graphene battery related activities represent over five years of R&D development that has been achieved internally and in collaboration with partners. These initiatives have produced a strong intellectual property (IP) portfolio and know-how within multiple graphene battery applications. More specifically, adding graphene to current Li-ion chemistries, with a focus on silicon-enabled Li-ion anodes, will improve energy capacity and charging speeds. The potential end-markets of these graphene-enhanced batteries can be applied to electric vehicles, energy storage systems, and electric trucks and buses. To progress further with this initiative, the Corporation plans to create a dedicated graphene battery R&D lab to support a pre-feasibility plan in creating a pilot line to produce graphene-enhanced anodes and Li-ion batteries.

Dr. Soroush Nazarpour, President and CEO of NanoXplore, commented:

“We are thrilled to be in a position to further explore and apply our graphene technology to Li-ion batteries. We believe graphene significantly enhances the performance of the current Li-ion battery anodes. Having said that, the current selling price of graphene has become a roadblock in the commercial adoption within the battery supply chain. Our low-cost graphene production technology enables us to reduce, or even remove, spherical graphite from Li-ion battery anodes. This price advantage will help address future bottlenecks in the Li-ion battery supply chain. I believe this is a great medium-term growth opportunity for NanoXplore and we anticipate investing $2,000,000 on this initiative over the next 24 months.”