Tickers: XOTC:GPHBF, XTSX:GGG
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December 14, 2017 / TheNewswire / Calverton, NY - Graphene 3D Lab Inc. (TSXV: GGG, OTCQB: GPHBF) ("Graphene 3D" or the "Company") is pleased to announce that a grant of $500,000, awarded to the Graphene Laboratories Inc, a wholly owned subsidiary of the Company, by Long Island Regional Economic Development Council ("LIREDC") to help financing the renovation of the company's new facility at Ronkonkoma, has been supported by the State of New York. The grant will also finance the acquisition of new equipment for the facility.
Early this year, the company was included in the strategic plan for economic development growth within the region prepared by LIREDC, titled "A Region in Motion". In this document, LIREDC named relocation and expansion of production capacity of Graphene Laboratories Inc. as one of the priority projects recommended to receive financial support from the State of New York. This strategic plan was supported by New York State as confirmed in an announcement by Governor Andrew M. Cuomo during an Award Ceremony that was held in the city of Albany on December 13, 2017. The Long Island Region was identified as a Top Performer. and New York State awarded the Long Island Region $83.3M to fund the projects listed in the plan recommended by the LREDC. The Grant received by the Company is a part of this award.
When announcing the award, Governor Cuomo said: "These awards are critical to building the foundations for New York's future and ensuring that our economic momentum continues. I congratulate each of the Councils on their awards and look forward to continuing to partner to keep our communities vibrant and thriving for years to come."
Additional information on the award could be found on the web site of the Governor office: https://www.ny.gov/sites/ny.gov/files/atoms/files/2017AwardsREDCRound7Bookletdjunys.pdf.
The project or relocation and business expansion project is listed under the CFA# 72614 on the page 135
The additional information about the LIREDC's strategic development plan for economic growth, "A Region in Motion" could be found on LIREDC's web site: https://regionalcouncils.ny.gov/sites/default/files/regions/longisland/LIREDC2017StrategicPlanfnl.pdf
The company is listed on the pages 40, 73 and 84
About Graphene 3D Lab, Inc.
Graphene 3D Lab, Inc. is a world leader in the development, manufacturing and marketing of proprietary composites and coatings based on graphene and other advanced materials. These diverse materials have a wide spectrum of commercial, research and military applications. The Company's wholly owned subsidiary, Graphene Laboratories Inc., currently offers over 100 graphene and related products to a client list comprised of more than 10,000 customers worldwide, including nearly every Fortune 500 tech company and major research university. Some notable clients are: NASA, Ford Motor Co., GE, Apple, Xerox, Samsung, Harvard University, IBM and Stanford University. The Company's suite of products are available online at the company's e-commerce platform Graphene Supermarket (www.graphene-supermarket.com).
The 3D printing division of the Company offers a portfolio of specialty fused filament fabrication filaments.. These materials can be purchased through multiple distribution networks worldwide or directly online at www.blackmagic3D.com. Graphene 3D also holds a new proprietary technology encompassing the preparation and separation of atomic layers of graphene. This technological breakthrough represents a new, energy efficient process to manufacture, sort and classify graphene nanoparticles resulting in the potential for large scale production of high grade graphene at lower costs than exist in today's marketplace.
The Graphene 3D facility is located in Calverton, NY and is equipped with material processing and analytical equipment. The company has six US patent applications pending for its technology. For more information on Graphene 3D Lab Inc., visit www.graphene3dlab.com.
ON BEHALF OF THE BOARD: Daniel Stolyarov, President & Co-CEO
For More Information:
Commercial Inquiries: Daniel Stolyarov Co-Chief Executive Officer Telephone: (631) 405-5116 Email: daniel.stolyarov@graphene3Dlab.com | Investor Inquiries: Ranjini Chakravorty Investor Relations Coordinator Telephone (631) 405-5114 Email: investors@graphene3Dlab.com |
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