NanoXplore and Molding Products Execute Long Term Supply Agreement for GrapheneBlack™ Enhanced Composite Materials for Transportation Market

MONTREAL, May 12, 2022 (GLOBE NEWSWIRE) — NanoXplore Inc. (“NanoXplore” or the “Corporation”) (TSX: GRA and OTCQX: NNXPF) announces that it has entered into a long-term supply agreement with Molding Products LLC to produce and sell graphene-enhanced Sheet Molding Compound (“SMC”) called GrapheneBlack™ SMC, 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% vs typical composite parts while also improving surface finish, paintability, and crack resistance. Under the terms of the agreement, both companies can market and sell the new premium grade of SMC under the NanoXplore tradename. 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.

 

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