HydroGraph Receives Purchase Order for Four Novel Graphenes from Global Automotive Customer
TORONTO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- HydroGraph Clean Power Inc. (CSE: HG) (OTCQB: HGRAF) (FRA: M98) (the “Company” or “HydroGraph”), a sustainable commercial manufacturer of pristine graphene, announced today that it has received a purchase order from a major global automotive company for research quantities of four additional graphene products. The purchase order includes both pristine functionalizations and completely novel formulations produced by HydroGraph’s patented explosion synthesis process.
The new purchase order, dated on November 18 and received by HydroGraph on November 19, is an expansion of the ongoing automotive composite improvement program which began with the customer earlier in 2024, adding new graphene projects in advanced manufacturing applications.
“These projects represent the type of high-value advanced materials applications feasible only with HydroGraph’s exceptionally pure and precision-engineered graphene products. We are excited to expand our work with this global automotive customer based on the quality of our nanomaterials designed to the meet the multi-functional specifications required in these programs,” said Kjirstin Breure, president and CEO of HydroGraph.
Automotive manufacturers represent a vast and scalable market opportunity for the Company, with the global automotive composites market projected to expand at a CAGR of 12.1% between 2023 and 2033, totaling around USD 26.1 billion by 2033.i HydroGraph’s patented explosion synthesis process, combined with its ability to engineer bespoke graphene products, positions the Company as a strategic supplier in this market.
Appointment of Darrow Associates for Investor Relations
The Company’s continued development and commercial advancement has led the Company to enter into an agreement (“Agreement”) with Darrow Associates (“Darrow” or the “agency”) to provide the Company with investor relations services.
Darrow Associates is an investor relations and financial communications firm with coverage throughout the United States. The firm was established in New York in 2005 and since that time has added to its professional staff to become one of the largest and most trusted IR consulting firms for middle market companies. Darrow Associates professionals have significant experience in partnering with public and pre-IPO companies in the technology, media and telecommunications (TMT), business services, alternative energy, clean technology, healthcare/medtech, financial services, industrial, and aerospace and defense industries. Additional information is available at www.darrowir.com.
Pursuant to the agreement with Darrow, the agency will provide investor relations services to the Company in exchange for a monthly fee of USD $9,000. The services include developing and managing an investor relations program, including company messaging, capital markets advisory and stakeholder relations. The agreement renews annually by mutual agreement and is cancellable on 60-day notice. The Company is at arm’s length from Darrow, and compensation payable to Darrow does not include any securities in the Company nor does Darrow currently own, directly or indirectly, any securities in the Company or any right or intent to acquire any securities in the Company. Darrow contact information: Jordan Darrow, Principal and Founder, Austin, TX, jdarrow@darrowir.com, 1-512-551-9296.
ABOUT HYDROGRAPH CLEAN POWER INC.
HydroGraph Clean Power Inc is a leading producer of pristine graphene using an “explosion synthesis” process, which allows for exceptional purity, low energy use and identical batches. The quality, performance and consistency of HydroGraph’s graphene follows the Graphene Council’s Verified Graphene Producer® standards, of which very few graphene producers are able to meet.
For more information about HydroGraph, please visit www.hydrograph.com. For company updates, please follow HydroGraph on LinkedIn and X.
Forward-Looking Statements
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “upon” “anticipate”, “believe”, “continue”, “plans” or similar terminology.
Forward-looking statements and information include, but are not limited to: statements in respect of the Private Placement, the use of the net proceeds from the Private Placement, the timing and ability of the Company to close the Private Placement, if at all, the gross proceeds of the Private Placement, the timing and ability of the Company to obtain all necessary regulatory approvals, if at all, and the terms and jurisdictions of the Private Placement; the statements in regards to existing and future products of the Company; the Company’s future personnel appointments; the Company’s plans and strategies.
Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of HydroGraph to control or predict, that may cause HydroGraph’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: HydroGraph’s ability to implement its business strategies; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. HydroGraph does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.
No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
CONTACTS
HydroGraph Investor Relations
Matt Kreps, Darrow Associates IR
mkreps@darrowir.com
214-597-8200
Kjirstin Breure, President and CEO
kjirstin.breure@hydrograph.com
480-267-2556
HydroGraph Media Contact
Raven Carpenter, Fox Agency
hydrograph@fox.agency
i Future Market Insights, 'Automotive Composites Market Snapshot (2023 to 2033)"
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