What is going on with NNXPF?
NanoXplore Inc. (NNXPF) stock surged today after Montreal-based graphene manufacturer announced that it had entered into a multi-year supply and distribution agreement with Gerdau Graphene, a wholly-owned subsidiary of Gerdau S.A. Shares of NNXPF increased 13.6% to $3.53 as of Thursday at 12:03pm.
What does this mean for NanoXplore Inc.?
Gerdau is Brazil's largest steel producer and one of the leading producers of long steel in America, as well as special steel in the world. NNXPF's agreement with the company will significantly increase their access to graphene, as well as expand their footprint in South America.
Soroush Nazarpour, President and CEO of NanoXplore, commented, “Today’s announcement represents another important step forward in expanding graphene applications on an industrial scale and targets customers in multiple markets, particularly for the concrete and construction markets. I believe that this Agreement will help cement our leadership position in the graphene market, and that it has the potential to create a demand for graphene that is greater than what NanoXplore is currently capable of producing.”
Graphene is the world's strongest artificial material and is known as an an additive to concrete to reduce water resistant cracks.
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NanoXplore Inc is a graphene company, manufacturer, and supplier of high-volume graphene powder for use in industrial markets. The company provides graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. Geographically, it generates a majority of revenue from the United States.
