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Novusterra acquired exclusive patent rights to graphene and carbon nanostructure technology from American Resources Corporation in exchange for $16 million worth of Novusterra stock.
Members of American Resources Corporation will assume control of Novusterra Inc. and join its board of directors.
MIAMI, FL / ACCESSWIRE / August 31, 2022 / Novusterra Inc. (privately held) (“Novusterra” or the “Company”) is a rapidly growing company focused on the development and commercialization of high-value graphene and carbon nanostructured products and applications, today , announced that it has obtained exclusive rights to the patent. Graphene and carbon nanostructures from American Resource Corporation in exchange for $16 million in Class A common Novusterra stock.
Novusterra Inc. CEO Andrew Weeraratne commented: Given the low-cost raw material (waste carbon) utilized in the manufacturing process, we have come to the graphene and carbon nanostructures industry. You can also create a world for sustainable infrastructure and the electrification industry.
According to the terms of trade:
- Dr. Gregory Jensen, PhD will be named Chief Executive Officer and Director of Novusterra and Dr. Gerardine (Gerri) Botte will be named Chief Technology Officer.
- Mark LaVerghetta has been appointed Chairman of the Board and other Board members include Dr. Byron Price, Eugene Nichols and Goran Antic.
- Novusterra will fund a sponsored research program at Texas Tech University to commercialize pretreatment, carbon nanostructures, and graphene technology.
- Novusterra will commit to a public exchange listing to fund the development and commercialization of its technology with a focus on infrastructure and battery storage applications.
- Novusterra will acquire the rights to lease certain assets and facilities in Indiana, Kentucky and West Virginia from American Resources. This provides a synergistic opportunity for both companies to develop consistent and sustainable carbon materials feedstocks.When
- Novusterra and ReElement Technologies will work together to create a joint service agreement for electrolysis technology utilized in both companies’ processes, creating additional synergies and cost savings.
Graphene is an allotrope of carbon consisting of a single layer of atoms arranged in a two-dimensional honeycomb lattice nanostructure. The name is derived from graphite, reflecting the fact that the graphite allotrope of carbon contains numerous double bonds. Graphene is very thin and very light, but harder than diamond. Graphene has become a valuable and useful nanomaterial due to its extremely high tensile strength, electrical conductivity, transparency, and being the thinnest two-dimensional material in the world. The global market for graphene is expanding rapidly, with most of the demand concentrated in the development of semiconductors, electronics, batteries, and composites.
About Novusterra Inc.
Novusterra’s mission is to harness the potential to produce high-quality carbon nanotubes and graphene from carbon-based deposits for high-tech applications within the energy storage, concrete and water filtration markets. The company has secured patents through a sublicense with American Resources Corporation (NASDAQ: AREC) designed to utilize an abundant, low-cost feedstock (coal) in an environmentally friendly process.
Special Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Results or industry performance that are materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. These statements are subject to numerous risks and uncertainties, many of which are outside the control of American Resource Corporation. “believe”, “may”, “will”, “should”, “would”, “could”, “continue”, “seek”, “expect”, “plan” The words , “expect”, “intend”, “estimate” or similar expressions are intended to identify forward-looking statements, but all forward-looking statements are It does not contain identifying terms. The forward-looking statements contained in this press release are made only as of the date of this release. We undertake no obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. We cannot guarantee that projected results or events will be achieved.
This news release does not constitute an offer to sell or the solicitation of an offer to sell securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or state securities laws. Registered under the securities laws of the United States and applicable state securities laws or an exemption from such registration is available.
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sauce: Novastera Co., Ltd.
View source version on accesswire.com:
https://www.accesswire.com/714047/Novusterra-Acquires-Exclusive-Rights-to-Carbon-Nanostructure-and-Graphene-Technology
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