NanoXplore increases production capacity to meet graphene-enhanced SMC parts demand
Customer funds capacity expansion costs in first of two-part expansion toward 5-year plan in SMC lightweighting.
Source | NanoXplore
Graphene company NanoXplore Inc. (Montréal, Quebec, Canada) has increased the production capacity of its St-Clotilde, Quebec, plant to meet an existing customer’s need for increased graphene-enhanced sheet molding compound (SMC) parts in an active program.
This two-phase capacity expansion, which is part of NanoXplore’s 5-year strategic plan and related to the SMC lightweighting initiative, begins immediately. It will contribute $2 million in incremental revenues during 2024 and once fully scaled up, is expected to contribute $8-10 million starting in 2025.
Moreover, a significant part of the capacity expansion costs will be assumed by NanoXplore’s customer, which has committed to purchase the additional equipment required for this program. Consequently, the previously announced SMC lightweighting initiative CapEx of $30-35 million will now be in a range of $25-30 million.
“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,” Soroush Nazarpour, president and CEO of NanoXplore, says. “This expansion is the first step in increasing our graphene-enhanced SMC parts manufacturing capabilities.”
In addition to this announcement, NanoXplore has appointment Pierre-Yves Terrisse as vice president of corporate development, to maintain the function and strategy of investor relations, including articulating the corporation’s growth plan, business and financial objectives to the investment community.
