The Coretec Group Signs Lease for Laboratory

Rhea-AI Summary

The Coretec Group, Inc. (OTCQB: CRTG) has signed a lease for a wet laboratory in Ann Arbor, Michigan, adjacent to its corporate offices. The lab will enable the production of cyclohexasilane (CHS) and silicon quantum dots, facilitating experiments critical for customer needs and innovations. Construction is ongoing, with completion anticipated by the end of December. This dedicated lab will support the company's CHS battery development and application advancements in various markets, including lithium-ion batteries and solid-state lighting.

Positive

• Lease signed for a wet laboratory to enhance R&D capabilities.
• Laboratory will facilitate the production of cyclohexasilane (CHS) and silicon quantum dots.
• Expected completion of lab by end of December, which will expedite product development.
• Dedicated lab space aligns with strategic goals for CHS application in key markets.

Negative

• None.

ANN ARBOR, Mich.--(BUSINESS WIRE)-- The Coretec Group, Inc., (OTCQB: CRTG), developers of engineered silicon and 3D volumetric displays, announces that it has signed a lease for a wet laboratory in the same building as its corporate offices at MI-HQ in Ann Arbor, Michigan.

The laboratory will have the necessary equipment for air sensitive chemistry including a fume hood, Schlenk line, and glove box, as well as other common synthesis tools such as a rotary evaporator and centrifuge. Construction on the laboratory space is progressing and the Company has begun acquiring lab equipment. The MI-HQ landlord anticipates the space will be ready for occupancy by the end of December.

The laboratory will enable The Coretec Group to produce cyclohexasilane (CHS) and silicon quantum dots as well as conduct experiments. The data gained from these experiments will be useful to meet the customers’ needs as well as spawn further innovations. In addition, the laboratory will be a useful tool for the Company’s CHS battery development.

“I am excited that The Coretec Group will have its first devoted wet lab space allowing us to realize our goals of engineering silicon to improve life,” said Dr. Ramez Elgammal, Ph.D., Chief Technology Officer at The Coretec Group. “Part of this will be bringing a dedicated R&D Scientist onboard to fast-track application development for CHS in a variety of markets including lithium-ion battery anodes and the development of next generation solid-state lighting. This is an important milestone for the company.”

About MI-HQ

MI-HQ is a high-energy, cooperative entrepreneurial community with 160,000+ square feet on Ann Arbor’s west side that helps local companies grow by providing functional, affordable space in a collaborative environment that fosters acceleration.

For more information, please visit https://mi-hq.com.

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 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/20211214006159/en/

Corporate Contact

The Coretec Group, Inc.

Lindsay McCarthy

info@thecoretecgroup.com

+1 (866) 916-0833

Source: The Coretec Group, Inc.