Coretec Progress on CHS Commercialization
ANN ARBOR, MI / ACCESSWIRE / March 10, 2021 - The Coretec Group Inc., (OTCQB: CRTG) (the “Company”), is a company developing a portfolio of silicon-based products in energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors. The Company, along with its partner Evonik, is pleased to announce they have successfully scaled the production of Cyclohexasilane (CHS) to 500g from 5g.
Compared to the previous laboratory amounts of 5g, this 100-fold increase demonstrates a successful step to pilot manufacturability of the material and is a big step on the path to commercial scale. The 500g will be split into smaller amounts (50-100grams) and shipped to several evaluation customers in Europe and the United States. European customers will be the first to receive their samples, followed by United States customers due to international shipping delays caused by Covid.
“We are pleased to have managed our progress with CHS commercialization this past year as planned, despite the world experiencing unprecedented times with the Covid pandemic, and we expect CHS to ship to our customers in the coming weeks,” said Michael Kraft, CEO of The Coretec Group.
Evaluation customers include those in academia, battery technology, and semiconductor processing. The ability to evaluate this unique liquid silicon precursor in real applications is crucial to validating CHS’s value and to identify any necessary modifications to processing parameters.
“Coretec has seen an enthusiastic response to CHS availability for application development by our customers, and our partners are working diligently to meet demand. We are confident that CHS is the silicon source many customers are looking for,” said Michelle Tokarz, The Coretec Group’s Director of Sales and Business Development.
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €13.1 billion and an operating profit (adjusted EBITDA) of €2.15 billion in 2019. Evonik goes far beyond chemistry to create innovative, profitable, and sustainable solutions for customers. More than 32,000 employees work together for a common purpose: Evonik improves life, today and tomorrow. www.corporate.evonik.com
About The Coretec Group
The Coretec Group, Inc. is developing a portfolio of silicon-based products in energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. Coretec’s products serve the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.
The statements in this press release that relate to The Coretec Group's expectations with regard to the future impact on the Company'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 Company’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.
The Coretec Group, Inc.
Released March 10, 2021