RE:RE:Great Lakes Graphite to resume trading on May 17 Thank you ChartTrader. Some interesting points:
A key step in that decision was the company’s deal with Chasm Advanced Materials Inc., a company developing carbon nanotubes that are much stronger than kevlar. The two companies will work together to develop enhanced materials for carmakers.
The NovoCarbon-Chasm agreement led to a premise-sharing agreement at Chasm’s Canton, Massachusetts based headquarters and an agreement to pool NovoCarbon’s expertise in applying its carbon knowledge to both traditional lead-acid batteries and lithium-ion batteries. NovoCarbon has an agreement with Niagara Falls-based Ashland Advanced Materials to source purified graphite and is engaged in multi-year talks with a number of influential companies in the car battery industries.
“We’ve been able to build up our knowledge base and credibility with a prospective client base and all that is starting to come to fruition,” Ferguson said.
The creation of a US company is significant for two key reasons, Ferguson said. Being an American company allows NovoCarbon to lock into a cheaper power source available in the United States.
The other key component in this strategy is the growing interest of the Donald Trump administration in securing supplies of what it considers strategic materials, including high quality graphite. NovoCarbon is among a small group of bidders for a contract to identify ways of building a reliable supply chain in the U.S. for graphite.
IF they can be successful in this bid then that would be a major catalyst. Also if CHASM can finalize a contract in the car business industry that would be great.