Black Swan Graphene (TSX-V:SWAN) said it closed its previously announced equity agreement and has entered into a supply agreement with Nationwide Engineering Research and Development (NERD), creating a partnership aimed at promoting graphene-enhanced concrete globally.
The company said the partnership is underpinned by several factors, including an equity swap through which each company now owns approximately 5% of the other.
Additionally, London-based multinational engineering consultancy Arup Group Limited has entered into a partnership with NERD, under which it owns 4.2% of NERD, the company said.
"These partnerships are poised to have far-reaching implications for the global concrete industry,” said Black Swan CEO Simon Marcotte.
“By leveraging the exceptional performance of the NERD process and Arup's expertise, reach and leadership, this integrated supply chain can provide a turnkey solution and revolutionize the concrete industry on a global scale.”
NERD, a spin-out from Nationwide Engineering Group, has developed a graphene-enhanced admixture for concrete, Concretene, which increases the strength of the material, helping reduce cement and the carbon footprint on construction projects.
Black Swan produces low-cost and high-performance graphene powders, derived from graphite, ideally suited for the concrete industry.
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