3DIcon Signs Supply Agreement with Gelest, Inc.
Agreement will enable pilot-scale manufacturing of Company's high value liquid silicon precursor, Cyclohexasilane, Si6H12 (CHS), for sale to commercialization partners
TULSA, OK -- (Marketwired) -- 12/20/16 -- 3DIcon Corporation (OTC PINK: TDCP) (the "Company") announced today it has signed a supply agreement with Gelest, Inc., a leading manufacturer and supplier of silane, silicone and metal-organic specialty materials.
An important first step in the Company's commercialization of its proprietary high volume liquid silicon precursor, cyclohexasilane, Si6H12 (CHS), is to produce it in volumes sufficient to sell to potential commercialization partners for testing, such as a commercial suppliers of materials used in Li-ion batteries and anode battery material. These sales by the Company of CHS produced by Gelest under the Agreement will represent the first revenue for this sector of the Company's operations, projected to reach $500,000 by the end of 2017. It is anticipated that the Company's CHS material would become a component of the anode, a major component of a lithium-ion battery as well as utilized in other key markets, such as solid state lighting, printable electronics, microelectronics and solar energy.
The agreement will enable Gelest to optimize the current process for making CHS, so that it can be produced within a manufacturing environment at greater quantities than currently achievable to the Company. Gelest will initially produce CHS at pilot (testing) scale.
"This supply agreement with Gelest is an important step forward for our Company as we continue efforts to bring our silicon materials to commercialization," said Doug Freitag, CEO of 3DIcon. "We are delighted to be embarking on this partnership with Gelest, an internationally recognized leader in commercial manufacturing of silicone and silicone precursor materials, and to begin producing our CHS materials. This agreement will permit us to provide CHS to interested commercial partners with the expectation of being able to generate both short- and long-term revenue through the sale of these materials.
We view this announcement as a significant milestone for the Company as we continue to implement the strategic objectives we have previously announced, which we believe will positively impact shareholder value."
Gelest will list the Company's CHS material on its website and within its catalogue for sale. It is anticipated that Gelest will also manage both inventory and distribution of the materials. We believe that there will be enough material produced by Gelest to accommodate 3DIcon's commercialization partners and to support the federal business development grants currently being pursued by the Company.
"We are pleased to enter into this supply agreement with 3DIcon to begin pilot-scale manufacturing of its silicon based material CHS," said Joel Zazyczny, Executive Vice President of Gelest, Inc. "We believe 3DIcon's innovative portfolio of Silicon derived materials, particularly CHS, will garner significant interest from a number of commercial partners in light of the multiple innovative applications and industries in which it can be utilized. We look forward to a successful relationship with 3DIcon."
3DIcon has recently identified energy storage, solid state lighting, printable electronics, microelectronics and solar energy as key markets for the application of CHS.
About Gelest, Inc.
Gelest, Inc., headquartered in Morrisville, Pennsylvania, is recognized worldwide as an innovator, manufacturer and supplier of commercial and research quantities of organosilicon compounds, metal-organic compounds and silicones. Gelest serves advanced technology markets through a materials science-driven approach. The company provides focused technical development and application support for semiconductors, medical materials, pharmaceutical synthesis, diagnostics and separation science, and specialty polymeric materials: "Gelest - Enabling Your Technology." www.gelest.com
About 3DIcon Corporation
3DIcon Corporation (the "Company") is a developer of technologies for emerging markets, including its patented volumetric 3D display technology, CSpace®. In collaboration with its wholly owned subsidiary, Coretec Industries, LLC, the Company utilizes a portfolio of silicon-based materials to pursue commercial development in energy-focused verticals such as energy storage, solar, and solid-state lighting, as well as printable electronics and 3D displays.
For more information, please visit www.3dicon.net.
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Source: 3DIcon Corporation
Released December 20, 2016