Graphene 3D Lab Inc. has entered into an agreement to acquire all outstanding shares of former parent company Graphene Laboratories.
Graphene Laboratories is the market leader in the manufacture and retail of graphene and advanced materials and also holds a provisional patent relating to the manufacture and processing of graphene.
The company was originally founded by scientists Dr. Elena Polyakova and Dr. Daniel Stolyarov to look into the possibilities of using graphene as a viable material for additive manufacturing.
Setup as a spinout company from Graphene Laboratories, Graphene 3D Lab has proved a successful venture with annual revenues in excess of $1,000,000 for the last fiscal year. The company has developed a 3D printed battery using its graphene based material and also launched Conductive Graphene Filament onto the market earlier this year.
The addition of GLI's business and graphene product lines will complement and expand the company’s existing business of research, development and production of polymer nanocomposite graphene-based filaments for fused filament fabrication in 3D printers. Graphene Laboratories client list is comprised of more than 8,000 customers worldwide including nearly every Fortune 500 tech company and major research university, NASA, Ford Motor Co., GE, Apple, Xerox, Samsung, Harvard University, IBM and Stanford University.
Conductive Graphene Filament.
Graphene Laboratories will operate as a wholly-owned subsidiary of Graphene 3D Lab. The non-arm's length share exchange agreement, dated 12th August 2015 (the "SEA") means Graphene 3D Lab will acquire all of the issued and outstanding shares of Graphene Laboratories Inc.
There will be no change in the board of directors of the Company, but Elena Polyakova will be appointed the Co-CEO, together with Daniel Stolyarov, the current President & CEO of the Company. Going forward, Graphene Laboratories has begun planning a two-phased development program to advance its current manufacturing process from a prototype to a large-scale manufacturing operation.