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Nanoxplore expands capacity quebec plant accommodate higher customer volumes
Nanoxplore expands capacity in Quebec plant to accommodate higher customer volumes
NanoXplore has announced that it has increased the production capacity of its St-Clotilde, Quebec plant to meet an existing customer’s need for increased graphene-enhanced SMC parts in an active program.This capacity expansion, which is part of its 5-year strategic plan and related to the SMC lightweighting initiative, begins immediately. This expansion, in two phases, will contribute $2 Million in incremental revenues during calendar 2024 and once fully scaled-up, is expected to contribute $8 Million to $10 Million annually beginning in 2025. Moreover, a significant part of the capacity expansion costs will be assumed by the customer. The customer has committed to purchase the additional equipment required for this program and consequently, the previously announced SMC lightweighting initiative capex of $30 Million to $35 Million will now be in a range of $25 Million to $30 Million.Soroush Nazarpour, President and Chief Executive Officer, said: “Demand is very strong for our graphene-enhanced composite products, up to the level that customers are covering capital costs to access larger production volumes. This expansion is the first step in increasing our graphene-enhanced SMC parts manufacturing capabilities and a big step towards achieving our 5-year plan in SMC lightweighting.”
Source:
www.globenewswire.com
Tags:
Carbon Nanotubes
Graphene investing and financials
Posted: Jan 30,2024 by Roni Peleg
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