FARMINGDALE, N.Y., July 15, 2016 /PRNewswire/ -- Cemtrex Inc. (Nasdaq: CETX), a world leading industrial and manufacturing solutions company, announced today that it will set up a research pilot plant for the production of Graphene while simultaneously sequestering carbon dioxide from flue gases at its Farmingdale facility. The Company expects the research pilot plant to commence within six months.
The Company had already been deeply involved in UNFCCC (United Nations Framework Convention on Climate Change) Clean Development Mechanism project work in past years, when it developed its VAMOX technology for destruction of low level methane from coal mines to generate carbon credits. Now with renewed global interest in the reduction of greenhouse gases, the Company plans to restart its research activities to strengthen its foothold within this sector. Initially, in the basic research the Company plans to evaluate certain new concepts to generate graphene nanoparticles while capturing Sulfur dioxide, nitrogen oxides and carbon dioxide from flue gases.
Cemtrex's Chairman and CEO, Saagar Govil (@SaagarGovil) , commented, "In the coming decade we anticipate the greenhouse gas reduction market to grow substantially and hence want to strengthen our position within this space by developing additional cutting edge technologies." "We want to have a stake in the production of the graphene nanoparticles and are looking at ways to accomplish this, using sustainable and ecofriendly methods," continued Mr. Govil.
Cemtrex, Inc. (NASDAQ: CETX) is a global, diversified industrial and manufacturing company that provides a wide array of solutions to meet today's technology challenges and is rapidly growing through acquisitions. Cemtrex provides: manufacturing services of advanced custom engineered electronics, industrial contracting services, monitoring instruments for industrial processes and environmental compliance, and equipment for controlling particulates, hazardous pollutants, and Greenhouse gases used in carbon trading globally.
Safe Harbor Statement
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. This release may contain Non-GAAP financial information and are not calculated or presented in accordance with US GAAP. The Company believes that the presentation of non-GAAP financial measures provides useful information to management and investors regarding underlying trends in its consolidated financial condition and results of operations. The Company's management regularly uses these supplemental non-GAAP financial measures internally to understand, manage and evaluate the Company's business and make operating decisions.
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SOURCE Cemtrex, Inc.