Lomiko Metals, the Canadian company focused on the exploration and development of minerals with aims towards a new green economy, announced signing an agreement to invest in a new graphene-related venture called Graphene Energy Storage Devices (Graphene ESD) which is a U.S Corporation.
Graphene ESD Corp. has been formed with intentions to commercialize their energy storage technology, as Lomiko recently reported a successful conclusion to phase I of its Graphene Supercapacitor Project with Graphene Laboratories and Stony Brook University.
Graphene ESD Corp. will develop low-cost graphene-based supercapacitor devices that will be capable of very high discharge currents. The development will focus on large-scale devices that are meant to have the lowest cost of power and stored energy in its class. The company states that their device is designed as a versatile energy storage solution for electronics, electric vehicles and electric grid.
Graphene ESD Corp. will issue and Lomiko will purchase for $ 182,286 USD, 1,800 shares of its Series A Preferred Stock at a purchase price of US$ 101.27 per share. The transaction is subject to all required approvals of the TSX-Venture Exchange, and Lomiko agrees to apply for, and use reasonable commercial efforts to obtain such approval immediately following the execution of this Agreement.