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VoltaXplore Inc., a 5050 joint venture between Martinrea International Inc. (TSX : MRE) and NanoXplore Inc. (TSX : GRA) aimed at commercializing the production of graphene-enhanced lithium-ion batteries for the electric vehicle market, today announced the commissioning of its one megawatt-hour demonstration facility in Montreal, Quebec. The facility is producing batteries, which are currently being optimized. The company expects graphene-enhanced batteries will have several advantages over existing products in the market today, such as greater capacity, increased battery life, faster charging speeds, and improved safety. Tests aimed at validating these benefits are ongoing, with encouraging results to date.
VoltaXplore will host Battery Day on April 5, 2022, in Montreal. Battery Day is an investor event that will showcase VoltaXplore's demonstration facility including its equipment and production processes and provide an opportunity for technical discussions and presentations with representatives from VoltaXplore, including senior management.
"VoltaXplore is making great progress and is on track toward meeting its expected milestones," said Pat D'Eramo, Chairman of VoltaXplore and President and CEO of Martinrea. "We remain excited about the venture, as we believe graphene-enhanced batteries have the potential to be a differentiated technology that could go a long way in addressing concerns around range and safety currently preventing more wide-scale adoption of electric vehicles. From Martinrea's perspective, combining our advanced lightweighting technologies with graphene-enhanced batteries is a big step forward in the EV space."
"I am delighted we joined a small group of companies in North America that are producing Li-ion batteries," said Soroush Nazarpour, President & CEO of VoltaXplore and NanoXplore. "Our focus is to integrate the supply chain of batteries in North America, which is of great interest to customers of batteries. Now that the facility is commissioned on-time and on-budget with satisfactory battery performance results, we are moving forward on optimizing our battery design for the electric vehicle market through testing with customers."
About VoltaXplore
VoltaXplore is a 50/50 joint venture between Martinrea International Inc. and NanoXplore Inc. aimed at commercializing and developing graphene-enhanced lithium-ion batteries for the electric vehicle market. VoltaXplore was established on April 15, 2021. Please visit www.voltaxplore.com .
About Martinrea International Inc.
Martinrea is a diversified and global automotive supplier engaged in the design, development and manufacturing of highly engineered, value-added Lightweight Structures and Propulsion Systems. Martinrea operates in 57 locations in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa and Japan. Martinrea's vision is making lives better by being the best supplier we can be in the products we make and the services we provide. For more information on Martinrea, please visit www.martinrea.com . Follow Martinrea on Twitter and Facebook .
About NanoXplore Inc.
NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in transportation and industrial markets. The Company provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. NanoXplore is headquartered in Montreal, Quebec with manufacturing facilities across North America and Europe. Please visit www.nanoxplore.ca .
For further information, please contact:
NANOXPLORE CONTACT:
Soroush Nazarpour, President & CEO
NanoXplore Inc.
info@NanoXplore.ca
Tel: 514.935.1377
MARTINREA CONTACT:
Deanna Lorincz, Global Director, Communications and Marketing
Martinrea International Inc.
deanna.lorincz@martinrea.com
Tel: 248.392.9727
Mobile: 586.634.1766
