The Coretec Group Releases Shareholder Letter Highlighting the CHS Commercialization Timeline, Evonik Partnership and Customer Updates
ANN ARBOR, MI / ACCESSWIRE / November 2, 2020 / The Coretec Group, Inc., (OTCQB:CRTG) ("Coretec"), a company developing a portfolio of silicon-based materials utilizing Cyclohexasilane ("CHS") to pursue commercial development of products in energy-focused verticals today issued a letter from CEO Michael Kraft to its shareholders:
To Coretec's shareholders and customers:
First of all, we'd like to extend a big thank you for your ongoing support and interest. The Coretec team has continued to make strides in our promise to deliver our liquid silicon, Cyclohexasilane (CHS) to market. We're now just a few months away from having a physical product on-hand and available for pilot testing by our customers.
The progress doesn't stop there, however, as we're also getting CHS in the hands of companies that can leverage its unique properties to create next generation technologies in energy-focused verticals - bringing us even closer to experiencing the impact of CHS. To provide transparency as Coretec nears these milestones, we'd like to share these exciting updates with you.
First, the supply partnership we entered into with Evonik just a few months ago is on schedule to deliver the initial 50g CHS samples by January 2021. We have been hands-on in our collaborative efforts, staying in constant contact with Evonik to follow progress and keep pace with our projected timeline. Process development is producing positive results, further validating our position that this is an efficient and scalable program that can become commercially viable. This is great news!
As we near the commercialization milestone, we have created a plan and process for handling CHS here in Ann Arbor, MI where Coretec USA service and support is headquartered. Through our partnership with Evonik and manufacturing in Germany, we can supply CHS worldwide with an initial focus on the USA and Europe where a majority of our customer interest, design, and product development efforts originate.
Second, we continue to take steps to acquire customers and establish partnerships. We have received significant interest from numerous customers in core markets spanning semiconductor, silicon anode Li Ion battery, and LED. I am especially pleased to have announced the partnership with Theion, where CHS is a key material in creating a battery that will enable faster EV adoption. Theion's Quasi Solid-State Battery (QSSB) with CHS enabled silicon anode will deliver higher power density by mass & volume, complete charging within minutes and have an increased lifespan with more charge & discharge cycles - all of which are critical demands placed on EV battery manufacturers and are the enablers to faster EV adoption. Read more here to learn why we believe silicon anode batteries are the future of EV charging. In these past few months, our customers and partners have confirmed our belief in the significant demand for CHS, and that the advanced molecule is capable of delivering the value and solution that customers seek.
Finally, we just announced that we will be, once again, trading on the OTCQB venture market, a premier market for entrepreneurial and development stage U.S. and international companies that are committed to providing investors with high-quality trading and improved market visibility. This will enable our company shares to be handled by more broker dealers, creating higher visibility to a broader security holder base, providing easy access to all those seeking to invest in the company.
"We have made amazing progress over the past year. Coretec has a strong team; especially in Product Development, Sales, Marketing, and Customer Support. We have a world-class supply partner in Evonik, we have developed Coretec owned Intellectual Property, and we have customers and partners lined up to move into the application and partnering phase of the commercialization process over the next few months," Michael Kraft, CEO, The Coretec Group.
To learn more about The Coretec Group or to submit interest in collaboration, please visit www.thecoretecgroup.com.
About The Coretec Group, Inc.
Coretec utilizes a portfolio of silicon-based and volumetric display materials to pursue commercial development of products in energy-focused verticals such as energy storage, solar, and solid-state lighting, as well as printable electronics and 3D volumetric displays. For more information, visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and Facebook.
The statements in this press release that relate to the Coretec's expectations with regard to the future impact on the Coretec's results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Coretec's actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
The Coretec Group, Inc.
SOURCE: The Coretec Group, Inc.
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Released November 2, 2020