East Lansing’s XG Sciences continues its pattern of growth with the announcement of a $4 million agreement with global performance materials company, Cabot Corporation. Under the agreement,
XG Sciences will provide the Boston-based Cabot Corporation with non-exclusive rights to their production technology for the manufacture of graphene nanoplatelets.
“I think it’s a natural stage in our business progress,” says XG Sciences CEO Mike Knox. “It’s a great validation of our technology, both on the manufacturing side and the scientific side.”
The agreement is the result of conversations between the two companies that began a couple of years ago. Cabot Corporation has sponsored research at Michigan State University to investigate XG Sciences’ materials.
“They are a global leader in this field are and operating in 20 countries around the world,” says Knox. “They could have gone with anyone in the world, but they chose to work with us.”
The announcement comes as the MSU spin-off company
prepares to move into an approximate 25,000-square foot facility in the Oakwood Office Park in Lansing. The expanded room is necessary as XG Sciences continues to grow its operations and staff. The firm began the year with eight employees and is now up to 23.
XG Sciences plans to grow to a staff of 50 over the next five years.
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