OTTAWA, ONTARIO--(Marketwired - March 25, 2014) - Grafoid Inc. is pleased to announce the signing of a Memorandum of Understanding between Grafoid and Mitsui & Co., Ltd. ("Mitsui"), one of Japan's leading corporations, to identify and develop market opportunities in Japan for Grafoid's MesoGraf™ - the first universally trademarked graphene.
The two-year agreement was signed by Grafoid CEO and co-founder Gary Economo and by Mr. Takeo Kato, General Manager of Advanced Material Division of Mitsui.
The agreement calls for the parties to jointly undertake a one-year detailed market feasibility study to identify and evaluate market opportunities prior to formalizing industrial and commercial development projects in Japan.
With R&D and production facilities in Singapore, Canada and the United States, Grafoid is an advanced, complete solutions graphene technologies company.
Grafoid's investment in a range of MesoGraf™ graphene products have led to an expanding array of pioneering business ventures and intellectual properties from industrial-scale application developments. Some of those developments include MesoGraf™ lithium iron phosphate (MLFP) battery materials in partnership with Hydro-Quebec and the development of graphene-based cancer eradication therapies in partnership with Calevia Inc.
Grafoid's MesoGraf™ sets the global standard for high-energy density graphene from a globally patented process. That process uniquely transforms raw, unprocessed graphite ore to affordable and scalable, high-purity, few layer graphene.
"This agreement is the culmination of months of discussions and the independent laboratory validation and characterization of MesoGraf's versatility by Japan's leading technology institutes," said Mr. Economo.
"The MOU recognizes both companies' willingness to pursue business opportunities that focus on and lead to the commercialization of MesoGraf™ in the Japanese market," he said.
"A Grafoid-Mitsui marketing partnership is doubly significant in that it serves as a gateway to Japan for Grafoid's existing renewable energy, polymer, bio-medical and catalyst material advances from MesoGraf™," Mr. Economo said.
Grafoid President and co-founder Dr. Gordon Chiu said the agreement represented yet another milestone for Grafoid and for MesoGraf™.
"Mitsui's industrial presence in Japan and Asia is robust and well-established. It has a deep interest in developing markets related to graphene and related applications," said Dr. Chiu, who led and supervised the technical evaluation in Japan during the last year.
"Mitsui invited Grafoid to validate its MesoGraf™ materials," he said. "The result is the signing of our MOU that will allow us to invest our efforts together in finding future joint venture application partnerships within Japan."
About Grafoid Inc.
Grafoid, Inc. is a privately held Canadian corporation investing in MesoGraf™ high energy density graphene applications and economically scalable production processes for pristine bilayer and trilayer graphene and MesoGraf™ derivatives from raw, unprocessed, graphite ore. The company is engaged in the development of graphene patent joint ventures globally, in the areas of renewable energy, advanced polymer materials, bio-medicine, thermal dispersion technologies, coatings and a number of classified material development projects. Focus Graphite, Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) holds a significant interest in Grafoid on behalf of its shareholders.
About Mitsui & Co., Ltd.
Mitsui & Co., Ltd. ("Mitsui") is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 147 offices in 67 countries as of March, 2014. Utilizing our global operating locations, network and information resources, we are multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Chemicals, Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Integrated Transportation Systems, Energy, Food Resources, Food Products & Services, Consumer Services, Innovation & Corporate Development Business. Mitsui is actively taking on challenges for global business innovation around the world.
For more information, visit www.mitsui.com.