NanoXplore Inc., a leading graphene company, has announced that it was the winning bidder for a significant portion of the assets of XG Sciences Inc, a developer of silicon-graphene anode materials, in a sale conducted by XG’s senior secured creditor pursuant to Article 9 of Michigan’s enactment of the Uniform Commercial Code. XG Sciences ceased operations in July 2022.
NanoXplore and the senior creditor have entered into an asset purchase agreement pursuant to which NanoXplore is acquiring XG’s mechanical milling platform, research and development lab and all issued and pending patents and trademarks, among other items. The payment of this transaction is paid in cash without any share issuance.
Founded in 2006, XG Sciences specialized in the production of graphene nanoplatelets and the formulations of advanced materials that amplify product performance across diverse applications such as Lithium-ion battery anode materials, automotive, packaging, composites, concrete, and other industrial markets.
While operating, XG worked with leading companies such as Ford for noise reduction and light-weighting using graphene-enhanced PU foam as well as Callaway Golf Company for graphene-enhanced golf balls.
“XG has been a respected competitor of ours for years, and the integration of their assets will further support the growth of NanoXplore. This acquisition accelerates our participation in the battery material space and significantly increases our intellectual property related to graphene and graphene-enhanced battery materials“, states Soroush Nazarpour, President and CEO, NanoXplore.