Pending product specification approvals, CisticPoly will distribute the graphene quantum dots into China. Subject to approvals, in the first 12 months, CisticPoly will purchase at least $2.5 million in graphene quantum dots, with the second milestone comprising purchases amounting to $7.5 million within 24 months and $15 million by 36 months.
“China is an extremely attractive market, with many applications for our graphene quantum dots such as anti-counterfeiting, brand protection, counterfeit product liability protections, chemical distribution and more,” Dotz Nano chief executive officer Dr, Moti Gross said.
He added CisticPoly and Dotz Nano had already made contact with several prospective companies in China including Sinofaith, Sinochem and Sinopec which could be a part of the commercialization process. “I cannot categorically state whether these negotiations will develop into sales agreements, but, in my opinion, we are implementing every effort in order to succeed,” Mr. Gross added.
The parties will investigate establishing a joint venture graphene quantum dot manufacturing facility in China after 24 months, and the contract will automatically be renewed for 12 months and can be terminated by giving 90-days writing notice.