The Coretec Group Signs CHS Supply Agreement with Richman Chemical

Rhea-AI Summary

The Coretec Group (OTC-PINK: CRTG) has signed a supply agreement with Richman Chemical Inc. to provide Cyclohexasilane (CHS) to North American customers. This partnership aims to mitigate supply chain issues and overseas shipping delays caused by the COVID-19 pandemic. The agreement includes the first run of CHS and experimental processing. Richman Chemical will enhance domestic delivery times and support Coretec's technology development for energy and electronic markets, crucial for accelerating commercialization timelines.

Positive

• Partnership with Richman Chemical enhances domestic supply chain for Cyclohexasilane (CHS).
• Collaboration expected to accelerate customer delivery times and commercialization timelines.

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• None.

ANN ARBOR, Mich.--(BUSINESS WIRE)-- The Coretec Group, Inc., (OTCQB: CRTG), developers of engineered silicon and 3D volumetric displays, has entered into an agreement with Richman Chemical Inc. (RCI) to supply The Coretec Group’s Cyclohexasilane (CHS) to North American customers.

Due to increasing supply chain difficulties and overseas shipping delays due to the COVID19 pandemic, it was important that The Coretec Group work with a US company to supply our North American partners with CHS. On November 15th, The Coretec Group signed a supply agreement with Richman Chemical for the first run of CHS as well as experimental processing. Richman, as The Coretec Group’s domestic supply partner, will accelerate the domestic delivery times of CHS to customers and partners in the US.

“Richman’s expertise in custom synthesis from lab-scale to production is crucial to Coretec’s success. We additionally look forward to a collaborative relationship, working directly with their chemists and engineers on site as appropriate,” said Michelle Tokarz, VP of Partnerships and Innovation, at The Coretec Group.

Christopher Kulp, Chief Commercial Officer of RCI, added, “The Coretec Group’s engineered silicon technology is a game-changer for the energy, display, and printable electronics markets. We are proud to provide a domestic development and scale-up solution that meets the company’s rigorous technical demands. Ultimately, we strive to condense commercialization timelines for our customers, and that is our over-arching priority for CRTG.”

About Richman Chemical

Founded in 1988, Richman Chemical offers solutions for process development, regulatory assistance, small-to-large-scale manufacturing, and expert project management. Richman Chemical is an excellent resource for virtual firms and venture capitalist-supported start-ups with limited budgets and constrained timelines for commercialization, and it also counts many Fortune 500 firms as its customers.

For more information, please visit www.richmanchemical.com. Follow Richman Chemical on LinkedIn, Facebook, and Twitter.

About The Coretec Group

The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.

For more information, please visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and LinkedIn.

Forward-Looking Statements

The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211116006343/en/

Corporate & Media contact:

The Coretec Group, Inc.

Lindsay McCarthy

info@thecoretecgroup.com

+1 (866) 916-0833

Source: The Coretec Group, Inc.

FAQ

What is the recent agreement between The Coretec Group and Richman Chemical?

The Coretec Group signed a supply agreement with Richman Chemical to provide Cyclohexasilane (CHS) to North American customers.

How will the agreement with Richman Chemical benefit The Coretec Group?

The partnership will mitigate supply chain challenges and reduce shipping delays, enhancing domestic delivery times for CHS.

What are the implications of the agreement for CRTG's customers?

The agreement aims to condense commercialization timelines and improve delivery efficiency for CRTG's North American customers.

When was the supply agreement with Richman Chemical signed?

The supply agreement was signed on November 15th.

What technology does The Coretec Group focus on?

The Coretec Group develops engineered silicon for applications in energy, electronics, and 3D volumetric displays.