LANSING, Mich., June 26, 2019 /PRNewswire-PRWeb/ -- XG Sciences, Inc. ("XGS") a market leader in designing advanced materials using xGnP® graphene nanoplatelets, announced that it has entered into a memorandum of understanding to participate in developing advanced composites in China based on its xGnP® graphene nanoplatelets. The Agreement strengthens the on-going relationship among the parties through creation of the Graphene Applications Development Center (GADC), a joint venture company between Sinochem Plastics Co., Ltd. ("Sinochem") and Yuyao PGS New Material Technology Co., Ltd. ("PGS") in the Sino-Italy Ningbo Ecological Park in Yuyao City. The parties recently partnered to bring new graphene enhanced anti-corrosion coatings to industrial and marine applications.
Under the Agreement, graphene-enhanced thermoplastic composites will be developed by GADC and will exclusively leverage graphene nanoplatelets produced by XGS. The parties target a range of thermoplastic materials and end-use markets including automotive, industrial and consumer items such a clothing. Products resulting from the collaboration will be manufactured and sold in China through Sinochem and PGS.
"We are pleased to be able to partner with Sinochem and PGS to further leverage the performance of our materials in new advanced composite applications", said Dr. Philip Rose, Chief Executive Officer, XG Sciences. "This activity further supports the value of our product offering on the international stage and allows XGS to strengthen our relationship with both Sinochem and PGS and leverage their market reach for our products in the important China market", Dr. Rose further added.
"We have been supporting XGS in the China market since 2015", said Dr. Shi Yan, President, Yuyao PGS New Material Technology Co., Ltd., "and we are excited to now combine our efforts with Sinochem Plastics under the Graphene Applications Development Center umbrella to create a new platform of materials."
About XG Sciences, Inc.
XG Sciences, formed in 2006, specializes in utilizing graphene nanoplatelets to formulate advanced materials that amplify the performance of products across numerous industries. High-performance materials have been shipped to over 1,000 organizations in 47 countries. Test results have shown enhancements in manufacturing processability and improvements in mechanical, thermal, electrical, and barrier properties for many base materials. For more information please visit http://www.xgsciences.com.
About Yuyao PGS New Material Technology Co., Ltd.
Yuyao PGS is an advanced materials development company focusing on the combination of graphene nanoplatelets and thermoplastic composites for use in a range of end-use markets. For more information please visit http://www.pgstars.com.
About Sinochem Plastics Co., Ltd.
Sinochem Plastics Co., Ltd. was established in 1988. Adhering to a market-oriented strategy, Sinochem Plastics has formed a business structure supported by engineering plastics, lightweight materials, fine chemicals and mineral resources in the past 30 years. In 2017, Sinochem Plastics achieved total sales of 2.25 million tons, total revenue of RMB 15bn and ranked number one among Asian chemical distributors for the third time. In 2018, Sinochem Plastics became a wholly owned subsidiary of Sinochem International (holdings) Co., Ltd. The main products of Sinochem Plastics include automobile special resins, polycarbonate, polystyrene, dyestuff and pigment, ABS resin, polyurethane, oleo chemical, Iron ore, coke and others. Sinochem Plastics offers agent distribution services in the Chinese market for large petrochemical companies domestic and abroad and provides raw material solutions to customers. For more information please visit http://www.sinochem.com.
If you would like more information about XG Sciences, Inc., please contact:
Jocelyn Hoffman
XG Sciences, Inc.
Director of Marketing
j.hoffman(at)xgsciences.com
+1 (773) 859-8449
SOURCE XG Sciences, Inc.
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