Black Swan Graphene (TSX-V:SWAN) has announced that it has entered into an agreement with Hubron International which the company said will fastrack the commercialization of its graphene products.
Hubron is a leader in black masterbatch production and more than 85% of its products are exported worldwide through its extensive distribution network, Black Swan said.
It said the two companies will explore opportunities to incorporate the use of graphene-enhanced masterbatch for improved functionality where commercially and technically possible for a range of industries including automotive, construction, consumer goods, food packaging and industrial sectors.
Hubron will play a key role in the manufacturing of graphene-enhanced black masterbatch for commercial applications for which Black Swan will be a preferred provider of graphene.
Black Swan noted that the agreement follows significant advancements in polymer composites using graphene-enhanced masterbatch, the details of which will be made public soon.
"This collaboration marks a transformative moment where the combination of Black Swan's expertise in graphene and Hubron's mastery in black masterbatch production and customer access are expected to fuel a surge in demand across diverse sectors,” Black Swan CEO Simon Marcotte said in a statement.
Hubron CEO Fergus McKendrick commented that the company was excited to embark on this “groundbreaking journey” with Black Swan.
“Together we aim to set new standards in customized solutions for a sustainable world, redefining possibilities and meeting the evolving needs of industries worldwide,” McKendrick said.
Shares of Black Swan moved 13.6% higher on the news to C$0.13 before Tuesday's opening bell.
Black Swan is focused on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, lithium-ion batteries, and others, which are expected to require large volumes of graphene.