is pleased to announce that its has finalized the research and development project to develop graphene-based composite materials for marine vessel applications (the “Project”) with a private Singaporean company (“Partner”). The Partner has accepted G6’s final research report and the Company expects to receive a final payment from the Partner of approximately $117,500 US Dollars, or $161,400 Singapore Dollars. During the Project, G6 successfully developed two formulations for graphene-enhanced resins for fiberglass and carbon fiber marine composites. According to various test results, the graphene-enhanced formulations demonstrated tangible advancements compared to conventional materials. In addition to the improved strength of the resin, the graphene-enhanced epoxy shows a 14-fold improvement of the fracture toughness. The new material exhibited 20% less water absorption and the fiberglass composite’s fatigue resistance was increased 3-fold, thereby making the service life of the new material longer than other formulations currently used in industry. The developed formulations were subject to extensive testing done in the Company’s lab, through third-party performance evaluation of the composite materials as well as via field testing conducted at the Lungteh Shipbulding shipyard. This concludes a two-year research effort to develop graphene-enhanced marine composites. “We are very happy that this research project has come to a successful conclusion. We have developed materials with superb performance and are eager to start offering them to our customers,” said Daniel Stolyarov, President & CEO of G6. “Not only can the marine industry benefit from using these graphene-enhanced formulations, but these materials can also be used for applications in the construction, automotive and green energy industries,” added Mr. Stolyarov. A detailed description and specifications of the new materials are available on the Company’s web site via the following link: https://g6-materials.com/advanced-materials-and-composites/#ATS
Pursuant to the agreement between G6 and the Partner, the intellectual property rights will remain with the Partner while the Company has a non-exclusive license to use the formulations for commercial purposes. The Partner is entitled to a four per cent royalty on the sales of the materials generated by the Company, subject to the final use of the materials being in the field of marine vessels or marine structures (the “Field of Use”). The Company is free to sell the materials without making any royalty payments outside of the Field of Use. The Company and the Partner are exploring the possibility of building a prototype boat to evaluate the performance of the materials in a real-life environment.