The Coretec Group Issues Corporate Update
TULSA, Okla., July 10, 2018 (GLOBE NEWSWIRE) — The Coretec Group, Inc., (OTC Pink:CRTG) (the “Company”), a Company developing a portfolio of silicon-based materials to pursue commercial development of products in energy-focused verticals, today shared an update surrounding its ongoing efforts to identify potential partners and establish itself as a leader in the advanced materials industry by leveraging the unique properties of cyclohexasilane (CHS) to enable new product developments or act as a drop-in replacement for conventional materials used for application in high growth industries.
Coretec’s lead product candidate is cyclohexasilane or Si6H12 (CHS), a liquid that converts to poly-silane when exposed to heat or UV irradiation, followed by conversion to amorphous silicon and ultimately crystalline silicon. The Coretec group believes further development and eventual commercialization of the product will result in improved performance, reduced cost, simplified manufacturing, and safer handling when compared to the more traditionally used mono-silane.
There are many potential advanced applications for CHS, spanning the high growth industries of solar energy, energy storage, sensors, volumetric imaging and semiconductors, among others. For example, battery manufacturers and application developers for a number of industries’ increased dependence on lithium, cobalt and other minerals have caused the cost of these battery components to rise, ultimately impacting the overall cost of the application itself. CHS represents an alternative to many of these mineral components, with the potential to both increase efficiency and output while simultaneously driving down cost.
Led by its VP of technology, Dr. Ramez Elgammal, the Coretec Group has continued to establish strong relationships with partners and customers, including both original equipment manufacturers (OEMs) and the product support value chain in key industries such as electric cars, personal electronics, semiconductor, solar, and LEDs. In May, Dr. Elgammal attended The Battery Show Europe where he observed strong interest in new anode materials to deliver greater energy density, and longer lasting and faster charging batteries, especially silicon-based ones. Many groups he spoke with expressed interest in integrated technologies that use silicon-based anodes to design next generation solid-state batteries, and view Coretec’s CHS as a potential key to reaching that objective.
The Coretec Group has also placed an emphasis on increased communications with both potential customers and the value chain supporting them, as noted above, as well as its shareholders. In June, CEO Michael Kraft conducted a Q&A with renewable energy news site AltEnergyMag that highlighted the Company’s focus on developing CHS technology for applications within a number of high-growth industries including energy storage, semiconductor, solar, LED, and others. The Company will continue to publish content in leading trade publications to increase visibility and position itself as a thought leader for emerging companies seeking cost-effective commercial solutions for silicon-based materials. To maintain ongoing communications with security holders, The Coretec Group has increased its use of Twitter and Facebook, as well as its corporate blog.
“Commercial success for the Company hinges on its technological advances as well as its ability to increase visibility in the market and create meaningful relationships with potential partners and customers,” said Michael Kraft, CEO of The Coretec Group. “We also understand the importance of maintaining effective communications with shareholders, and have placed an emphasis on doing so using several mediums. We are excited about the progress made to convert ongoing high level conversations with partners and customers into agreements that we believe will commercialize and scale our silicon-based material technologies.”
About The Coretec Group, Inc.
The Coretec Group, Inc. (the “Company”) 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.
|The Coretec Group, Inc.||Press contact:|
|Judy Keating||FischTank Marketing and PR|
Source: The Coretec Group Inc.
Released July 10, 2018