Graphene 3D Lab has announced that it has been approved to move forward with the next task of its research, development and royalty agreement with a Fortune 500 listed manufacturer. G3L has successfully concluded the initial task of the Agreement.
The Agreement encompasses the development of multi-phased deliverables over the course of approximately a year. Due to confidentially clauses, neither specific research objectives nor the identity of the Fortune 500 manufacturer could be disclosed. Upon successful completion of the research phase, and subject to approval by the U.S. Food & Drug Administration, the developed materials are to become a part of a consumer retail product. The Agreement calls for all research and development costs and royalty obligations to be paid by the partner, as well as a first-right-of-refusal for supply of any graphene related materials in future manufacturing pertaining to Intellectual Property (IP) developed under the agreement. All IP developed under the scope of the Agreement will be jointly held by both parties.