San Marcos Texas, June 13, 2019 (GLOBE NEWSWIRE) -- Leading American cadmium-free quantum dot and nanomaterials manufacturer Quantum Materials Corp, (OTCQB: QTMM) announced today that it has received orders totaling $1 million for two high volume quantum dot production systems. The $1M order has been placed by Amtronics LLC and has been secured with a letter of credit issued by Assam Electronic Development Corporation Limited. The two systems are scheduled to be delivered to Amtronics LLC on or before June 30, 2019 and will be deployed at the Quantum Materials Corp’s licensee’ new Tech City site in Assam India, currently under construction with a target completion date of November 2019.
Quantum Material's is the leader in high volume, low cost, quantum dot production using its patented continuous flow process technologies. Their QDX™ dots have been engineered to provide long-term reliability making them ideally suited for solar, energy storage, lighting and display applications.
Quantum Materials Corp CEO Stephen B. Squires commented, “We are pleased to see our patented technology being deployed in India and we are working closely with our licensees to better understand the Indian market and the nuances of doing business in this rapidly developing region. In addition to our primary mission of developing infrastructure to support roll-to-roll printing of next-generation quantum dot-based thin-film solar cells, the Tech City plant will be developing technology to support commercial production of QD based films for high color gamut flat panel displays as well as QD-LED general lighting and energy storage applications.”
Commenting on the news, M.K. Yadava, CEO of Assam Electronics Development Corp, stated: "We are excited to see our vision taking shape in this exciting new venture to build next generation technology utilizing quantum dot materials. We are making excellent progress in constructing the new quantum dot facilities here at Tech City and with weather permitting, we believe the new facility will be completed according to schedule with an opening date on or about Nov 2019. The required battery of soil, pile load and water quality tests have all been completed at this time. Finish grading and secondary ground preparations for the project area have also been completed and facilities construction work will be commencing at this time."
Squires concluded that, “The Indian market for solar and high efficiency LED lighting technologies holds enormous potential. We believe our strategy to license our technologies to well positioned strategic partners with Indian government participation is a winning combination and one that we intend to continue to build on. With above-ground construction now ready to commence, we expect a steady stream of updates on this project from our partners and will be releasing additional updates on a periodic basis as the project progresses and approaches completion in the fourth quarter of this year.”
ABOUT QUANTUM MATERIALS CORP.
Quantum Materials Corp (QMC) develops and manufactures quantum dots and nanomaterials for use in display, solar energy and lighting applications through its proprietary high-volume continuous-flow production process. QMC's volume manufacturing methods enable consistent quality and scalable cost reductions to provide the foundation for technologically superior, energy efficient and environmentally sound displays, the next generation of solid-state lighting and solar photovoltaic power applications. Wholly-owned subsidiary Solterra Renewable Technologies develops sustainable quantum dot solar technology. For more information follow Quantum Materials Corp at www.QMCDOTS.com
About Amtronics India LLC
Amtronics India LLC is a joint venture between Amtronics cc of South Africa headed by Dr. George Anthony Balchin and Amtron an Indian government owned electronics technologies company headed by M.K.Yadava. Amtronics cc has expertise in infrastructure and construction management and deep operational expertise. Amtron is a Indian government owned enterprise devoted to advancing emerging electronics technologies that lead to creating new industries and employment opportunities in Assam India.
QUANTUM MATERIALS CORP CONTACTS:
Toshi Ando
Sr. Director of Business Development for Asia/Pacific
510.300.4021
toshi@qmcdots.com
INVESTOR RELATIONS:
Clay Chase
619 917-6771
cchase100@yahoo.com
MEDIA
Rich Schineller
941.780.8100