|By Marketwired .||
|September 2, 2014 11:13 AM EDT||
OTTAWA, ONTARIO -- (Marketwired) -- 09/02/14 -- Grafoid Inc., a complete solutions graphene company, announced today its acquisition of Braille Battery, Inc. of Sarasota, Florida - an internationally recognized developer and manufacturer of advanced, lightweight lithium ion automotive batteries.
Financial details of the acquisition were not released.
Braille Battery is a global leader in the development, production and sales of ultra lightweight lithium ion high performance batteries and seller of the world's first environmentally sustainable AGM carbon fiber batteries for IndyCar, NASCAR, Formula 1 racing cars, motorcycles and batteries for the marine industry.
Under the terms of the agreement, Grafoid acquires a 75% ownership interest in Braille while Braille's founder, Mr. Blake Fuller, will continue to lead the company as President and Chief Operating Officer.
Mr. Fuller is a championship race car driver, engineer and developer of the first lithium starting battery and GO PUCK, a pocket sized mobile power supply. He founded Braille Battery in 2002 and continues to develop lightweight power solutions across all sectors.
Braille Battery has a history of successfully commercializing new battery technologies.
Gary Economo, Grafoid's Chief Executive Officer said the purchase of Braille Battery paves the way for Grafoid's commercialization of high performance, next generation MesoGraf lithium batteries.
"Grafoid's high-energy performing MesoGraf graphene combined with Braille's cutting edge engineering and manufacturing capabilities create a perfect fit for adapting a novel power source to the needs of our future electric vehicle manufacturing customers," Mr. Economo said.
"In commercial terms, the benefits of a 100% controlled supply chain are immeasurable," Mr. Economo added. "MesoGraf holds the potential to become a powerful, high-performing energy source.
"And with supply chain control, Grafoid moves into a globally unique position to lead change in the electrification of transportation industries," Mr. Economo said. "While we will continue our focus on Formula 1, NASCAR and IndyCar markets, we'll also be pursuing all racing platforms."
Mr. Economo said Grafoid intends to further expand its reach into the global battery industry by developing advanced battery applications and products for the medical, military and marine sectors.
Mr. Fuller described the transaction as "an exciting advancement in corporate development because it will allow us to take 21st century technologies and move them into the not-so-distant future.
"From our initial discussions with Grafoid's President and Chief Technology Officer, Dr. Gordon Chiu, it was very clear that Braille Battery was the perfect vehicle for winning the race to market for graphene technology," he said.
"The diverse capabilities of MesoGraf graphene will enable Braille Battery to improve not only lithium ion batteries, but other transportation power technologies," Mr. Fuller said.
With research and development and MesoGraf production facilities in Canada and Singapore and with the commissioning of its United States' production facility later this year, Grafoid is the world's largest producer of few layer, high-purity, high energy density graphene.
About Braille Battery, Inc.
Founded in 2002 by Mr. Blake Fuller, Braille Battery is a pioneering battery manufacturing and energy storage solutions company with a complete line of lightweight high powered battery systems for the transportation market. Braille developed the world's first commercially available automotive lithium starting battery and has grown to become the highest volume producer of automotive lithium starting batteries.
With a rich history dominating motorsports from NASCAR to IndyCar, Braille has developed solutions that are applicable to the demanding, highly profitable specialty automotive, marine, defense, medical, and aerospace markets. With international patents pending on over 20 core technologies, Braille brings superior performing products to market with a simplified manufacturing process with exclusive designs. With over 500 international resellers, 100 web domains, and trademarks and copyrights on 25 attractive branding elements, Braille's experienced marketing team has continued to fast track growth to become a global market leader in niche, high performance batteries.
Braille's ISO compliant, GSA/CCR registered design, engineering and manufacturing facility in Sarasota, Florida forms a global distribution and contract manufacturing hub extending to the United Kingdom, Germany, Australia, Japan, China and Singapore.
Braille Battery was adopted as the official business name to reflect that electrical performance and lightweight benefits are often only felt and not seen. The company's focus is to produce products that are lighter, stronger and faster.
For additional company information please visit: www.braillebattery.com
About Grafoid Inc.
Incorporated in Ottawa, in September 2011, Grafoid is a graphene development and investment company partnered with Focus Graphite Inc., owner of the high-grade Lac Knife, Quebec graphite deposit, and; graphene producer Graphite Zero Pte Ltd. and the National University of Singapore's Graphene Research Center - one of the premier graphene R&D institutes in the world - all of whom are now represented at Grafoid's Innovation Park facilities in Kingston, Ontario.
Grafoid's leading investment results in a game-changing process that sets a global standard for economically scalable graphene products, universally trademarked as MesoGraf.
Grafoid Inc. is a privately held Canadian corporation investing in MesoGraf high-energy density graphene applications and economically scalable production processes for pristine bilayer and trilayer graphene and MesoGraf derivatives from raw, unprocessed, graphite ore.
The company is engaged in the development of graphene patent joint ventures globally, in the areas of renewable energy, advanced polymer materials, biomedicine, thermal dispersion technologies, coatings and a number of classified material development projects. Focus Graphite, Inc. (TSX VENTURE: FMS)(OTCQX: FCSMF)(FRANKFURT: FKC) holds a significant interest in Grafoid on behalf of its shareholders.