We are pleased to announce that GC and the Centre for Process Innovation (CPI), have signed a three year agreement allowing CPI to convert 30% of GC’s CPI expenses into GC common equity shares.
CPI is a part of the UK Government’s High-Value Manufacturing Catapult, which has a directive to help SMEs take products from concept to market. For the last three years, GC has had a close technology development partnership with CPI, and in particular its Graphene Application Centre. With its significant R&D facilities and resources, this has enabled GC to develop go to market products quickly and effectively, saving significant time and investment.
The Earn-In Agreement provides for:
– An initial term of three years, with an option to extend the earn-in agreement for a further two years.
– GC commits to a minimum in R&D project spending with CPI over the next three years
– In turn, CPI has committed to converting 30% of GC’s invoiced expenses with CPI into common equity shares in GC,
with these earn-in shares converted at the same prevailing price as offered to other common equity shareholders
This is a unique partnership with CPI and further strengthens the relationship between us – continuing the strategic joint development structure that GC has benefited from over the last three years, whilst still allowing GC to retain all commercial rights to the intellectual property (IP) that is developed.