MONTREAL, July 17, 2018 (GLOBE NEWSWIRE) -- NanoXplore Inc. ("NanoXplore" or “Corporation”) (TSX-V:GRA) is pleased to announce the summary results of an independent Feasibility Study (the “FS”) for its upcoming 10,000 metric tons/year graphene production plant. All reported figures are in Canadian dollars and are on a 100% project basis unless otherwise stated.

FEASIBILITY STUDY HIGHLIGHTS

• Pre-tax NPV at 8% discount of $476 million, pre-tax IRR of 75%
• Project life of 25 years with modular design, enabling further expansion with simple replication of production modules
• Total plant construction cost estimated at $40.1 million including the sustaining capex with 25 months pre-tax payback period
• Average Graphene selling price of $10,000 per metric ton and average operating cost of $4,042 per metric ton

DESIGN CRITERIA AND EXECUTION STRATEGY

The FS envisions a modular graphene production plant consisting of 5 graphene production lines, each with a capacity of 2,000 metric ton/year. Each line consists of 4 graphene production modules, each with a capacity of 500 metric ton/year and each module is designed based upon existing and producing graphene production module in the Corporation. The Corporation’s proprietary graphene production technique is a batch process and modular design of the plant provides the flexibility to adjust the production output with customer requirements.

NanoXplore has already signed a lease and an option to expand and purchase agreement for a 70,000 sq.ft building bearing civic address 4500 Thimens Boulevard, in Montréal (Borough of Saint-Laurent), along with two vacant lands, attached to the building. Following the expansion, total building area reaches to more than 134,000 sq.ft.

The project will be executed on an EPCM basis which initially one graphene production line would be constructed and commissioned by January 2020 followed by the construction and commission of four remaining lines by January 2021. The FS envisions a production output of 2,000 metric tons during 2020 civil year with an average operating cost of $5,500 per metric ton, 5,000 metric tons during 2021 civil year with an average operating cost of $4,300 per metric ton and 10,000 metric tons during 2022 civil year and after with an average operating cost of $4,040 per metric ton.

COMPARING THE FS WITH PEA ON A 100% PROJECT BASIS

Dr. Soroush Nazarpour, President and CEO of NanoXplore commented: "This is a significant achievement for NanoXplore and a significant milestone for graphene market. This upcoming 10,000 metric ton/year graphene production plant would be the largest of its kind in the world and would position NanoXplore as a leader in graphene market. Offering graphene with a price of $10,000 per metric ton has been repeatedly asked by our partners and clients and such pricing will meaningfully help the global growth of graphene market. I am very pleased that we are taking this initiative with project metrics that make sense for our customers, existing shareholders and future investors”.

About NanoXplore Inc.

NanoXplore is a graphene corporation, a manufacturer and supplier of high-volume graphene powder for use in industrial markets, as well as standard and custom graphene enhanced plastic and composite products. NanoXplore has recently announced the acquisition of Sigma Industries. Upon completion, NanoXplore will employ near 400 people with production plants in Canada, US, and Switzerland.   

Forward-looking statements

This press release contains forward-looking statements. 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, which may cause NanoXplore's actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. Any forward-looking information is made as of the date hereof and, except as required by law, NanoXplore does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Providers (as that term is defined in the polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact:

NanoXplore Inc.
Soroush Nazarpour
President and CEO
(514) 935-1377
[email protected]