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Novusterra has acquired the unique patent rights in Graphene and Carbon Nanostructure know-how from American Sources Company in change for $16 million price of Novusterra Inventory
Members of American Sources Company will take over the administration of Novusterra Inc. as nicely be part of its Board of Administrators
MIAMI, FL / ACCESSWIRE / August 31, 2022 / Novusterra Inc. (Non-public) (“Novusterra” or the “Firm”), a quickly rising firm targeted on growing and commercializing high-value merchandise and functions for graphene and carbon nanostructures, at this time introduced that it has acquired the unique rights to patents for graphene and carbon nanostructure from American Sources Company in change for $16 million of Class A typical Novusterra shares.
Andrew Weeraratne, CEO of Novusterra Inc. commented, “We’re excited to finish this transaction to drive elementary worth for our shareholders and construct a world class group to assist navigate the expansion of the corporate sooner or later. The applied sciences are a gamechanger in the case of the graphene and carbon nanostructure trade given the low-cost feed inventory (waste carbon) that’s utilized within the manufacturing course of. Not solely can we clear up the surroundings but in addition produce a number of the highest high quality merchandise and functions on the planet for the sustainable infrastructure and electrification trade”.
Pursuant to phrases of the transaction:
- Dr. Gregory Jensen, PhD will likely be named Chief Government Officer and Director of Novusterra and Dr. Gerardine (Gerri) Botte because the Chief Technical Officer;
- Mark LaVerghetta will likely be named Chairman of the Board, different board members will embody: Dr. Byron Worth, Eugene Nichols and Goran Antic;
- Novusterra will fund the sponsored analysis program at Texas Tech College to advance the preprocessing, carbon nanostructure and graphene know-how to commercialization;
- Novusterra will work to checklist on a public change in an effort to fund the event and commercialization of the know-how with a give attention to infrastructure and battery storage functions;
- Novusterra could have rights to lease sure properties and services in Indiana, Kentucky and West Virginia from American Sources which can permit for synergistic alternatives for each corporations as they work to develop a constant and sustainable feedstock of carbon materials; and
- Novusterra and ReElement Applied sciences will collaborate and enter right into a joint companies settlement on electrolysis know-how which is utilized in each corporations’ processes and can subsequently generate extra synergies and price saving applied sciences.
Graphene is an allotrope of carbon consisting of a single layer of atoms organized in a two-dimensional honeycomb lattice nanostructure. The identify is derived from graphite reflecting the truth that the graphite allotrope of carbon comprises quite a few double bonds. Graphene is extraordinarily skinny and very gentle but tougher than diamonds. Graphene has grow to be a invaluable and helpful nanomaterial resulting from its exceptionally excessive tensile power, electrical conductivity, transparency, and being the thinnest two-dimensional materials on the planet. The worldwide marketplace for graphene is quickly increasing with a lot of the demand targeted on improvement in semiconductor, electronics, electrical batteries, and composites.
About Novusterra Inc.
Novusterra’s mission is to harness the potential to supply top quality carbon nanotubes and graphene from carbon-based deposits to be utilized in excessive tech utility throughout the power storage, concrete and water filtration marketplaces. The corporate has secured the patents by way of a sublicense with American Sources Company (NASDAQ: AREC) that are designed to utilize an ample and low-cost feedstock (coal) in an environmentally pleasant course of.
Particular Word Relating to Ahead-Wanting Statements
This press launch comprises “forward-looking statements” throughout the which means of the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements contain identified and unknown dangers, uncertainties, and different necessary components that would trigger the Firm’s precise outcomes, efficiency, or achievements or trade outcomes to vary materially from any future outcomes, efficiency, or achievements expressed or implied by these forward-looking statements. These statements are topic to quite a lot of dangers and uncertainties, lots of that are past American Sources Company’s management. The phrases “believes”, “could”, “will”, “ought to”, “would”, “may”, “proceed”, “seeks”, “anticipates”, “plans”, “expects”, “intends”, “estimates”, or comparable expressions are meant to establish forward-looking statements, though not all forward-looking statements comprise such figuring out phrases. Any forward-looking statements included on this press launch are made solely as of the date of this launch. The Firm doesn’t undertake any obligation to replace or complement any forward-looking statements to mirror subsequent occasions or circumstances. The Firm can’t guarantee you that the projected outcomes or occasions will likely be achieved.
This information launch doesn’t represent a proposal to promote or a solicitation of a proposal to promote any of the securities in the USA. The securities haven’t been and won’t be registered underneath the USA Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities legal guidelines and will not be provided or bought inside the USA or to U.S. Individuals until registered underneath the U.S. Securities Act and relevant state securities legal guidelines or an exemption from such registration is out there.
SOURCE: Novusterra Inc.
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