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Stock impact report

NanoXplore wins new business representing $24M in annual sales at mature volumes and announces the nomination of Jesse Stanley, COO of Shell Energy, to its board of directors [Financial Po...

Devon Energy Corporation (DVN) 
Last devon energy corporation earnings: 2/18 04:05 pm Check Earnings Report
Company Research Source: Financial Post
OTCQX: NNXPF ), a world-leading graphene company is pleased to announce that it has been awarded three programs from two existing customers, one large commercial vehicle OEM and one industrial equipment manufacturer, to supply exterior parts of vehicles. These components are used in both internal combustion engines and electric vehicles. Production for the first program will begin in 2024 while the start of production for the other two programs is planned for 2026. These programs generally last for a period of 10 years. The Corporation estimates that these programs will generate $24M in annual sales at mature volumes along with a one-time tooling revenue of $10M. The Corporation has already secured the related manufacturing equipment to fulfill these orders and the expansion of the North Carolina facility is ongoing. These investments are part of NanoXplore's 5-year strategic plan. Soroush Nazarpour, President and Chief Executive Officer, said: “I would like to thank our customers Show less Read more
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