EAST LANSING, Mich. — Michigan State University spinoff XG Sciences has entered into a series of agreements with POSCO, a Korean corporation and one of the world's largest steel producers, to create a strategic partnership for the advancement of graphene manufacturing and product development based on XG Sciences' proprietary technologies.
XG Sciences, Inc., a private company headquartered in Lansing, manufactures xGnP graphene nanoplatelets, an inexpensive material that can be used to improve the strength and performance properties of materials ranging from plastics to electronic components and batteries.
Under the agreements, POSCO will purchase a 20 percent share of XG Sciences, Inc., and will obtain production licenses to manufacture and sell xGnP graphene nanoplatelets. The two companies also will collaborate on product development for energy storage, advanced materials and electronics product applications.
"We are honored that POSCO chose XG Sciences as a partner to help expand their offerings in advanced materials," said Michael Knox, CEO of XG Sciences. "POSCO is one of the top materials companies in the world. Our partnership will benefit both companies; POSCO will obtain the best technology in our field and we will expand our worldwide capabilities.”
When XG Sciences’ products were first introduced in 2007, it received a Nano 50 Award from NanoTech Briefs, an online magazine that explores engineering achievements in nanotechnology and microelectromechanical systems. The Nano 50 awards recognize the top 50 technologies, products and innovators that have made, or are expected to make, a significant impact in the nanotechnology industry.
POSCO, in addition to being one of the world's largest steel producers, operates a worldwide network of subsidiaries in energy, construction, logistics, mining and materials markets. POSCO was recently named the most admired company in its category in the annual FORTUNE survey, and it recently announced a planned $30 billion capital investment program as part of an expansion in its overseas operations.
###
Michigan State University has been working to advance the common good in uncommon ways for more than 150 years. One of the top research universities in the world, MSU focuses its vast resources on creating solutions to some of the world’s most pressing challenges, while providing life-changing opportunities to a diverse and inclusive academic community through more than 200 programs of study in 17 degree-granting colleges.