GRA NanoXplore Inc

NanoXplore Inc. (“NanoXplore” or “the Corporation”) (TSX: GRA and OTCQX: NNXPF), a world-leading graphene company, proudly announces an interesting achievement in graphite exfoliation with the successful development of a novel dry graphene manufacturing process.

The dry process centers on an advanced exfoliation technology with innovative media that enables high yield exfoliation without the introduction of impurities.

The fusion of NanoXplore’s strong intellectual property portfolio and the strategic patents acquisition of XG Sciences has yielded in this significant advancement in graphene production. The amalgamation of eight different patents registered and/or granted in Australia, Canada, United States, Taiwan, China, and South Korea together with NanoXplore’s knowledge and experience deliver a graphene with a mix of performance and cost-effectiveness. The research and development related to this process started a decade ago with an investment of nearly $40M to date by NanoXplore and XG Sciences.

NanoXplore’s novel dry graphene manufacturing process has several benefits compared to the traditional liquid exfoliation methods. In terms of capital expenditures, dry manufacturing process delivers nearly 50% reduction versus liquid exfoliation process. According to the Corporation’s current estimation, a net 8 000 metric tons capacity requires only $20M in capital expenditures, with a quarter of the current square footage required as opposed to liquid exfoliation process.   NanoXplore has secured key suppliers, ensuring a robust supply chain for the main equipment. Equipment procurement is streamlined with off-the-shelf solutions, with an estimated lead time of 8-12 months. The Corporation is planning to start purchasing the equipment during 2024 calendar year.

NanoXplore’s novel dry graphene manufacturing process could bring the Corporation within cost parity with traditional carbon additives such as carbon black. The cost reduction results primarily from using low grade waste graphite (which is derived from graphite anode production process) as feedstock. Furthermore, it is highly scalable and operates on a continuous basis, streamlining production efficiency. Superior processability and long-term performance of dry-processed graphene offers investors a more attractive proposition and will expand the Corporation’s total addressable market and accelerates commercial adoption of graphene.

With granted patents already secured, this proprietary technology boosts some key physical properties in polymers by 20% compared to existing products for applications with over 20-yr longevity requirements. The technology finds potential applications in batteries and lightweight composites, enhancing its appeal in cutting-edge industries. This new manufacturing process also opens doors to a myriad of applications, including plastic pipes, geosynthetics, recycled plastics, concrete, drilling fluids, and insulation foams, among others.

The new dry manufacturing process marks a paradigm shift, substantially reducing the environmental footprint associated with traditional graphite exfoliation methods. This new process addresses environmental concerns associated with water usage, eliminating washing and drying steps that contribute to increased costs and environmental impact.

NanoXplore's CEO, Soroush Nazarpour, expressed enthusiasm about this breakthrough, stating, "Our team's dedication to innovation and sustainability has led to this remarkable achievement. The dry manufacturing process not only underscores our commitment to environmental stewardship but also reinforces NanoXplore’s position as the leader in cost-effective, high-performance graphene solutions. This technological advancement reinforces NanoXplore's commitment to pushing the boundaries of what is possible in field of carbon technology and reaffirms its role as an industry pioneer.”

About NanoXplore

NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in transportation and industrial markets. Also, the Corporation provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. The Corporation is also a silicon-graphene-enhanced Li-ion battery manufacturer for the Electric Vehicle and grid storage markets. NanoXplore is headquartered in Montreal, Quebec with manufacturing facilities in Canada, the United States and Europe.

Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumption was made and on management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors deemed appropriate in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Forward-looking statements are not facts, but only predications and can generally be identified by the use of statements that include phrases such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “foresee”, “grow”, “expect”, “plan”, “intend”, “forecast”, “future”, “guidance”, “may”, “predict”, “project”, “should”, “strategy”, “target”, “will” or similar expressions suggesting future outcomes.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties, including the relevant assumptions and risks factors set out in NanoXplore’s most recent annual management discussion and analysis filed on SEDAR+ at www.sedarplus.ca, which may cause NanoXplore’s actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of global economy, notably as a consequence of the Covid-19 pandemic. Any forward-looking information is made as of the date hereof and, except as required by law, NanoXplore does not undertake any obligation to update or revise any forward–looking statement as a result of new information, subsequent events or otherwise.

Forward-looking statements reflect management's current beliefs, expectations and assumptions and are based on information currently available to management. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated by such statements.

No securities regulatory authority has either approved or disapproved the contents of this press release.

For further information, please contact:Pedro AzevedoChief Financial Officerpedro.azevedo@nanoxplore.caTel: 1 438 476-1973