TORONTO, ONTARIO--(Marketwired - Aug. 1, 2017) - Great Lakes Graphite Inc. ("GLK" or the "Company") (TSX VENTURE:GLK)(OTC PINK:GLKIF)(FRANKFURT:8GL) announces the Company has executed an agreement with CHASM Advanced Materials ("Chasm") to establish and operate a Battery Materials Laboratory in the Boston area. Chasm is a privately-owned US manufacturer of premier carbon nanotube (CNT) products.
- Great Lakes Graphite Inc. and CHASM Advanced Materials, Inc. have executed an agreement to establish a Battery Materials Lab (BML).
- The Lab leverages Chasm's unique capabilities and expertise in creating formulations that have been introduced into batteries and energy storage applications.
- The BML will provide advanced capabilities for materials analysis, quality control and product development, including products that combine graphite and CNTs.
- Application for certification of BML facilities by the State of Massachusetts is planned.
The executive management teams of Great Lakes and Chasm developed a concept to establish and operate a Battery Materials Lab. The lab is a natural outgrowth of the specific combination of knowledge, skills, equipment and facilities that are immediately available to make this idea a reality. Great Lakes and Chasm will use the lab to create a sustainable long term competitive advantage for both organizations.
The focus of joint development efforts between Great Lakes and Chasm is enhanced battery materials, which will benefit enormously from Chasm's unique capabilities and expertise in creating formulations that have been introduced into batteries and energy storage applications.
Sophisticated equipment available for use in the Lab will be used critical analyses that are required for battery materials, including: particle size distribution analysis, particle shape analysis, thermogravimetric analysis (TGA), visual analysis, tap density and porosity analysis (BET). Building a comprehensive and robust set of analytical capabilities will address ongoing quality control requirements and is expected to help compress product development timelines.
Application for certification of the Battery Materials Lab by the State of Massachusetts will be initiated immediately following establishment of the lab. Certification of the facilities will insure that the Lab is subject to independent regulatory oversight and will also position the Lab to provide fee-based services to external organizations. It is anticipated that burgeoning growth in battery and energy storage applications will drive significant demand for the materials analysis, consulting and product development services that will be provided through the Lab.
Great Lakes Graphite CEO Paul Gorman said, "We were incredibly fortunate to encounter Chasm just as we were entering an advanced stage of planning for a quality control and product development lab for our own purposes. With the equipment that is available at Chasm and the skills and experience represented by our respective teams, creating a Battery Materials Lab was clearly a synergistic opportunity. In the short time since we have met, they have shown themselves to be extremely focused and capable with formidable experience and capabilities in leveraging nanotechnology for energy-related applications. The Company is actively seeking additional sources of liquidity for general working capital purposes and execution of initiatives such as establishing the Battery Materials Lab at CHASM."
Great Lakes Graphite Corporate Update - Director Resignation
The Company further announces that John Carter stepped down from the Board of Directors effective July 28, 2017.
"The Board is appreciative of John's input over the past few years," said Paul Gorman, the Chief Executive Officer of Great Lakes Graphite. "We understand and support his decision to step down. He's made clear his objective to decrease the number of his responsibilities for a number of years, and we appreciate him staying on for as long as he has. We wish him all the best going forward."
About CHASM Advanced Materials, Inc.: Chasm Advanced Materials, Inc. was established in November 2015 and, in early 2016, acquired substantially all of the assets of SouthWest NanoTechnologies (SWeNT) and has reopened the state-of-the-art Carbon Nanotube (CNT) plant in Norman, Oklahoma. Chasm Advanced Materials manufactures high-quality single-wall and few-wall CNT materials made using the patented CoMoCAT™ process under an exclusive license with the University of Oklahoma.
About Great Lakes Graphite Inc.: Great Lakes Graphite is a Clean Technology Minerals Processing Company supplying customers with innovative, high quality value-added carbon products.
There is no significant graphite production in North America now. As pricing and demand continue to rise, Great Lakes Graphite is one of the first new domestic suppliers to a growing regional customer base. We continually work to deliver products of the best quality with outstanding customer service.
The Company is party to an agreement for long-term supply of high quality natural graphite concentrate from Brazil (see news release dated 03/23/15). Great Lakes Graphite is presently working with an established US-based processor for toll micronization services. The Company has partnered with Ashland Advanced Materials for commercial-scale purification operations at Ashland's 110,000 square foot purification facility located in Niagara, New York.
Through our partner relationships, Great Lakes Graphite began selling micronized synthetic graphite beginning in 2016 and now supplies micronized and high purity micronized natural flake graphite products to a growing customer base.
Further information regarding Great Lakes can be found on the Company's website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 125,656,830 shares outstanding.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Information: Certain statements in this press release may constitute "forward looking information" which involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this press release, such forward looking information may use such words as "may'', "will'', "expect'', "believe'', "plan'' and other similar terminology. Forward looking information is provided for the purpose of presenting information about management's current expectations relating to the future events and the operating performance of the Company, and readers are cautioned that such information may not be appropriate for other purposes. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the Company to fulfill the orders and future orders, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Great Lakes operates. The foregoing list of factors is not exhaustive. Please see the Company's financial statements, MD&A and other documents available on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
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