Iranian Nanocomposite Developer Expands Production Line in Canada with Investment of Customers
According to a report by the Iran Nanotechnology Innovation Council (INIC), Soroush Nazarpour, the CEO of the Canada-based Group NanoXplore operating in the field of nanotechnology said, “This company has recently increased the production capacity of its graphene-reinforced composites. The necessary capital for this capacity increase was allocated by one of the customers.”
The Montreal-based graphene producer and developer company has announced that it has increased the production capacity of its plant in Quebec province. This increase in the production capacity of nanomaterials has been done with the aim of meeting the customers’ demands.
This capacity increase is a part of his company’s 5-year strategic plan and is aimed at meeting the needs of the auto parts market. With the launch of this new production line, $2 million have been added to the company's revenues in 2024, and this figure for 2025 can increase to between $8-$10 million.
Moreover, an important part of the capacity expansion costs is supplied by one of the customers. This customer has committed itsef to purchasing additional equipment required for the development program.
“The demand for our graphene-reinforced composite products is high to the extent that customers are incurring capital expenditures to access higher production volumes. This capacity expansion is the first step to increase our graphene-based SMC component manufacturing capabilities and a major step toward achieving our 5-year plan to deliver lightweight SMC products,” Nazarpour also said, according to INIC report.
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