Australia: First Graphene (FGR) has signed a memorandum of understanding (MOU) with The Sixth Element (Changzhou) Material Technology for the latter company to be its key distributor in China for First Graphene's PureGRAPH CEM additive product. The agreement allows exclusivity for Sixth Element, subject to annual purchase targets being achieved, and will target the cement and concrete sector.
The MOU also includes provisions upon sale of 200t of FGR's product to negotiate a joint venture or licencing agreement to manufacture the additive at a dedicated manufacturing site in China. Once 500t of PureGRAPH CEM is sold in China, a joint venture or licencing agreement will commence, enabling the product line manufactured in China to be distributed locally. There is also opportunity expand this arrangement to authorise Sixth Element to sell the additive globally.
First Graphene Managing Director and CEO, Michael Bell, said "The MOU with Sixth Element represents the largest commercial growth opportunity in FGR's global strategy, as we prepare for entry to the world's biggest cement and concrete industry in the world.”