Following Dotz Nano's MoU with Colorplastic to develop GQDs-enhanced polymers and surface modificants in October 2017, the Company announced its first major purchasing agreement for the sale of GQDs with Colorplastic.
According to the said agreement, Colorplastic agreed to purchase $300,000 USD of GQDs per annum. The price per kg is not disclosed in order to protect Dotz Nano's pricing policy. Colorplastic’s purchase of GQDs is conditional on it receiving specific purchase orders for GQD enhanced polymers and plastics from its customers.
Dotz Nano’s CEO Dr. Moti Gross, stated: I’m pleased to announce an additional step in the commercialization of our GQDs. After signing of the MoU with Colorplastic, we embarked on an expedited pilot project for implementing GQDs into a variety of polymers for use in various applications. After successfully achieving the pilot objectives ahead of schedule, we embarked on negotiations with Colorplastic to reach the Framework Purchasing Agreement (FPU).
The GQDs used by Colorplastic will be used mainly for anti-counterfeiting markets, however they will also be applied to optical brightening markets. Colorplastic is an important part of the Company’s commercialization process as they supply polymer products to a variety of OEMs including Swatch Group, BMW, Victorinox and others.
In January 2017, Dotz Nano signed a marketing agreement with Strem Chemicals, a manufacturer and distributor of specialty chemicals headquartered in the U.S. In July 2017, Dotz Nano received firm commitments to raise $1.5 million via a placement of shares.