SABIC signs joint venture agreement with Molecular Rebar Design to develop nanomaterials
SABIC and Molecular Rebar Design, LLC have signed a joint venture agreement to develop and commercialize nanomaterials for select market segments and applications. The joint venture, Black Diamond Structures, LLC will develop, manufacture, and commercialize products based on Molecular Rebar Design’s unique and revolutionary carbon nanotube (CNT) technology, Molecular Rebar®.
CNTs when made commercially consist of large entangled bundles of nanotubes. These bundles are far less useful than discreet or individual nanotubes. Molecular Rebar® are discreet, open ended, highly functionalized CNTs that are free from catalysts and waste matter and are demonstrated to advance the science and applications for nanomaterials.
Black Diamond Structures, LLC will focus on applications in select market segments including Energy Storage, Energy Generation, Automotive & Light Truck, Consumer Electronics, and Construction.
Commenting on the joint venture, Ernesto Occhiello, SABIC Executive Vice President, Technology & Innovation, said Black Diamond Structures, LLC is aligned to SABIC’s 2025 strategy and part of the drive to develop higher value-added specialty businesses globally and in Saudi Arabia. “SABIC believes that nanotechnology is an important part of the future. We focus on making nanointermediates more viable for industrial implementation via improved scale-up, ease/effectiveness of use and partnership with customers. We believe the new JV is well aligned with emerging market needs, and thus is poised for accelerated deployment and development for both existing and new applications.”
Kurt Swogger, Chief Executive Officer of Molecular Rebar Design, said, “We believe the synergistic combination of Molecular Rebar Design’s advanced nanotechnologies with SABIC’s commercial and manufacturing capabilities will lead to many exciting opportunities for innovative, new materials in high growth market segments.”