GTG and QMA Report 150 Million RMB Investment by C
Post# of 22465
(Total Views: 352)
Posted On: 01/30/2017 7:34:25 AM
GTG and QMA Report 150 Million RMB Investment by China Government Guidance Fund and Siting of Production Facilities in Beijing and Changde Economic Development Zones
By GlobeNewswire, January 30, 2017, 07:00:00 AM EDT
HONG KONG, Jan. 30, 2017 (GLOBE NEWSWIRE) -- The Guanghui Technology Group (GTG) and Quantum Materials Asia Co., Ltd., (QMA), a joint venture of GTG and Quantum Materials Corp (OTCQB:QTMM), today reported an investment by the China Government Guidance Fund of 150 Million RMB ($21.8 million) in GTG and QMA. Quantum Materials Asia was originally established in Hong Kong in September 2016 with registered initial capital investment of 100 million RMB (US$14.4 million).
QMA will build two Quantum Dot production line and application development centers in the Beijing and Changde Special Economic Development Zones. The advantages to QMA of siting the facilities in these locations beyond proximity to clients includes a full refund of the land purchase cost upon facility completion as well as a five year state tax exemption.
Both facilities will utilize Quantum Materials Corp's proprietary high-volume continuous-flow quantum dot manufacturing technology to produce heavy metal-free quantum dots in consistent and scalable volumes. Embedding quantum dot production regionally will allow QMA to customize QD characteristics and optimize manufacturing efficiencies and supply chain logistics to meet the needs of major display component manufacturers in the region. Construction on both facilities will start in the third quarter of 2017.
"We are pleased to report that we have secured the funds necessary to move forward with building both QMA production facilities," said GTG CEO and President Mr. Xiao Liu. "Upon completion we expect rapid growth of QMA as we bring production online to meet both current demand for quantum dots from display manufacturers as well as demand in emerging applications such as solar power generation."
"We applaud both the Chinese Government Guidance Fund and GTG for bringing forward this timely investment to secure the land and resources required to build out both application development and quantum dot production facilities," said QMA President and Quantum Materials Corp Chairman and CEO Stephen A. Squires. "The Beijing and Changde Special Economic Development Zones are prime locations in which to work closely with regional manufacturers and also offer significant economic benefits to our growing presence in Asia."
http://www.nasdaq.com/press-release/gtg-and-q...z4XFPwp2bw
By GlobeNewswire, January 30, 2017, 07:00:00 AM EDT
HONG KONG, Jan. 30, 2017 (GLOBE NEWSWIRE) -- The Guanghui Technology Group (GTG) and Quantum Materials Asia Co., Ltd., (QMA), a joint venture of GTG and Quantum Materials Corp (OTCQB:QTMM), today reported an investment by the China Government Guidance Fund of 150 Million RMB ($21.8 million) in GTG and QMA. Quantum Materials Asia was originally established in Hong Kong in September 2016 with registered initial capital investment of 100 million RMB (US$14.4 million).
QMA will build two Quantum Dot production line and application development centers in the Beijing and Changde Special Economic Development Zones. The advantages to QMA of siting the facilities in these locations beyond proximity to clients includes a full refund of the land purchase cost upon facility completion as well as a five year state tax exemption.
Both facilities will utilize Quantum Materials Corp's proprietary high-volume continuous-flow quantum dot manufacturing technology to produce heavy metal-free quantum dots in consistent and scalable volumes. Embedding quantum dot production regionally will allow QMA to customize QD characteristics and optimize manufacturing efficiencies and supply chain logistics to meet the needs of major display component manufacturers in the region. Construction on both facilities will start in the third quarter of 2017.
"We are pleased to report that we have secured the funds necessary to move forward with building both QMA production facilities," said GTG CEO and President Mr. Xiao Liu. "Upon completion we expect rapid growth of QMA as we bring production online to meet both current demand for quantum dots from display manufacturers as well as demand in emerging applications such as solar power generation."
"We applaud both the Chinese Government Guidance Fund and GTG for bringing forward this timely investment to secure the land and resources required to build out both application development and quantum dot production facilities," said QMA President and Quantum Materials Corp Chairman and CEO Stephen A. Squires. "The Beijing and Changde Special Economic Development Zones are prime locations in which to work closely with regional manufacturers and also offer significant economic benefits to our growing presence in Asia."
http://www.nasdaq.com/press-release/gtg-and-q...z4XFPwp2bw
(3)
(0)