KNOXVILLE, Tenn., Oct. 21, 2019 /PRNewswire/ -- 4M Carbon Corp. and Montefibre Carbon Fiber are in the process of finalizing a letter of intent (LOI) to establish a partnership, including a potential U.S.-based joint venture (JV). 4M is currently a fully reporting SEC entity, which will accelerate a combined 4M/Montefibre IPO and listing in the U.S.
4M and Montefibre will disrupt the carbon fiber industry by combining Montefibre's ultra-large tow precursor and 4M's low-cost carbon fiber production technology to produce the world's lowest-cost industrial-grade carbon fiber.
4M's patented technology reduces the initial investment of a carbon fiber manufacturing line by up to fifty percent (50%) and ongoing operating cost savings by greater than thirty percent (30%), which will enable rapid growth of low-cost carbon fiber capacity.
Montefibre's ultra-large tow technology, with the full support of the Spanish government, significantly reduces carbon fiber precursor cost by exponentially increasing volume throughput.
"4M and Montefibre's JV addresses the biggest issues preventing large-scale adoption of carbon fiber for industrial applications that will benefit greatly from the strength and light weight of carbon fiber," said Garo Artinian, 4M Board Member and Chief Advisor. According to Alfonso Cirera, President of Montefibre Carbon, "This JV will make an important contribution to the competitiveness of American industry and its global leadership in composites."
4M will continue to implement its acquisition strategy of acquiring synergistic downstream carbon fiber conversion companies to build enterprise and shareholder value. Montefibre will continue to increase its carbon fiber precursor production capacity with the support of the Spanish government.
4M Carbon Fiber Corp. is a Delaware Corporation based in Knoxville, Tennessee. Montefibre Carbon Fiber is based in Miranda de Ebro, Spain.
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This news release may contain forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, they are based on management's current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
SOURCE 4M Carbon Fiber Corporation