Shareholder Call Series – Part 4
In July 2020, Coretec announced that it entered into a manufacturing partnership with Evonik, who will deliver the first batches of cyclohexasilane (CHS) before the end of 2020. At that point, we will be prepared to provide CHS samples to our application development partners.
This is a significant milestone for us for two separate reasons. The first is a decision by Evonik shows that there is a need for CHS in different markets. Evonik, being a leading supplier of specialty chemicals across the globe, would not enter into a project like this if they didn’t feel there was demand for the CHS molecule and the material technology.
The second is, Evonik is a world-class supplier with over 30,000 employees in over 100 countries. They offer the R&D and pilot manufacturing skills and capability to supply CHS for application development, in addition to the scale for commercial volume sales. They’re a very high-quality partner to have in your court. Evonik has a stellar reputation as the world’s largest specialty chemical company and from the several meetings we’ve already had with them, we see why they’re the best. Evonik’s reputation helps us eliminate concerns about the availability of CHS, scalability, and simplifies the process for us to solicit application partners.
By the end of 2020, we plan to have CHS in hand which customers can use for several energy-focused applications. Our partnership with Evonik is incredibly exciting and validating for us and we are excited to see what new opportunities it opens up moving forward.
To learn more about Coretec’s partnership with Evonik, please see page three and six of the July 2020 shareholder call transcript or visit our expanded blog post on this subject.