AI
Tuesday, March 19, 2019 11:08:20 AM
San Marcos Texas, March 19, 2019 (GLOBE NEWSWIRE)
Summary of March 19, 2019 news release:
-- Quantum Materials Corp announced today that it has received an initial $500K upfront fee along with confirmation that the $500K balance payment is in process.
- The license is for the establishment of large scale, low cost quantum dot production for the development and future commercial manufacture of ultra-high definition display panels (UHDTV); solid state lighting (SSL) LED's, and quantum dot driven thin-film solar cells (QDSC) in Assam, India.
- The Agreement provides Amtronics CC the right to use the QDX™ trademark and technical data to support its marketing initiatives. Under the terms of the Agreement, in addition to the upfront license fee, QMC will also receive technology development funding, scheduled milestone payments and royalties on all quantum dots/solar cells produced.
- The next step is providing two large scale quantum dot reactors to establish QD production at the India facility to support the solar cell print line which we expect to receive a purchase order for this equipment in the next few weeks along with an 80% upfront payment.
- The initially proposed 12,000 square foot facility has been expanded to cover 120,000 square feet, construction of the facility has begun with the foundation test pilings now being completed and non-destructive testing now underway, it is anticipated to be completed in the fourth calendar quarter of 2019.
- The QMC nanotech-focused facility is being established as the anchor project within the recently announced Electronics Manufacturing Cluster in the Guwahati Tech City.
- The delay in processing of the upfront license fee was largely an unintended consequence of expanding the project scope from the initial $20M to the now proposed $70M.
- The Indian government has made a priority of putting in place multi-hundred gigawatt by the year 2025, of which a large percentage of that power generation is slated to be provided by solar. We have laid out a very comprehensive roadmap to providing this solution with a now completed solar cell design and plan to commence production of solar cells via a continuous, rapid feed flexographic based printing process as soon as the manufacturing facility in Assam is up and running.
- You can expect a series of announcements regarding this venture over the next 6 to 12 months in the form of interim updates and we look forward to sharing the progress of this exciting and forward-thinking project with all shareholders as it unfolds."
- Our partnership with Amtronics CC is an important step in expanding the value of the QMC franchise globally.
- This partnership will allow us to address global challenges such as rising energy costs, energy security, increasing power consumption and environmental quality on a more rapid basis.
Amtronics licensee is not the only star in the QMC galaxy, other licensee stars are in incubation and will come into being.
_M31_(Andromeda).jpg)
Summary of March 19, 2019 news release:
-- Quantum Materials Corp announced today that it has received an initial $500K upfront fee along with confirmation that the $500K balance payment is in process.
- The license is for the establishment of large scale, low cost quantum dot production for the development and future commercial manufacture of ultra-high definition display panels (UHDTV); solid state lighting (SSL) LED's, and quantum dot driven thin-film solar cells (QDSC) in Assam, India.
- The Agreement provides Amtronics CC the right to use the QDX™ trademark and technical data to support its marketing initiatives. Under the terms of the Agreement, in addition to the upfront license fee, QMC will also receive technology development funding, scheduled milestone payments and royalties on all quantum dots/solar cells produced.
- The next step is providing two large scale quantum dot reactors to establish QD production at the India facility to support the solar cell print line which we expect to receive a purchase order for this equipment in the next few weeks along with an 80% upfront payment.
- The initially proposed 12,000 square foot facility has been expanded to cover 120,000 square feet, construction of the facility has begun with the foundation test pilings now being completed and non-destructive testing now underway, it is anticipated to be completed in the fourth calendar quarter of 2019.
- The QMC nanotech-focused facility is being established as the anchor project within the recently announced Electronics Manufacturing Cluster in the Guwahati Tech City.
- The delay in processing of the upfront license fee was largely an unintended consequence of expanding the project scope from the initial $20M to the now proposed $70M.
- The Indian government has made a priority of putting in place multi-hundred gigawatt by the year 2025, of which a large percentage of that power generation is slated to be provided by solar. We have laid out a very comprehensive roadmap to providing this solution with a now completed solar cell design and plan to commence production of solar cells via a continuous, rapid feed flexographic based printing process as soon as the manufacturing facility in Assam is up and running.
- You can expect a series of announcements regarding this venture over the next 6 to 12 months in the form of interim updates and we look forward to sharing the progress of this exciting and forward-thinking project with all shareholders as it unfolds."
- Our partnership with Amtronics CC is an important step in expanding the value of the QMC franchise globally.
- This partnership will allow us to address global challenges such as rising energy costs, energy security, increasing power consumption and environmental quality on a more rapid basis.
Amtronics licensee is not the only star in the QMC galaxy, other licensee stars are in incubation and will come into being.
_M31_(Andromeda).jpg)
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
