Graphene 3D Lab and Graphene Laboratories have announced that they have signed a research, development and royalty agreement with a Fortune 500 manufacturer (that has been included in the Fortune 500 list for over 15 years). The agreement specifies the development of multi-phased deliverables over the course of the next 12 months. For confidentially reasons, neither specific research objectives nor the identity of the agreement partner can be revealed. Upon successful completion of the research phase, and subject to approval by the U.S. FDA, the developed materials will become a part of a consumer retail product.
The agreement defines that all R&D costs and royalty obligations are to be paid by the partner, as well as a first-right-of-refusal for supply of any graphene related materials in future manufacturing. All IP developed under the scope of the Agreement will be jointly held by both parties.
G3L's role will mainly be to help the partner develop solutions and processes to incorporate graphene into their existing manufacture processes, and assist the partner to understand, handle and integrate graphene into future manufacturing. G3L stated that it not just replacing other additives with graphene, but is working jointly with partners to elevate the potential of their products.