San Marcos Texas, June 13, 2019 (GLOBE NEWSWIRE) -
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Posted On: 12/18/2019 5:38:58 AM
San Marcos Texas, June 13, 2019 (GLOBE NEWSWIRE) -- Leading American cadmium-free quantum dot and nanomaterials manufacturer Quantum Materials Corp, (OTCQB: QTMM) announced today that it has received orders totaling $1 million for two high volume quantum dot production systems. The $1M order has been placed by Amtronics LLC and has been secured with a letter of credit issued by Assam Electronic Development Corporation Limited. The two systems are scheduled to be delivered to Amtronics LLC on or before June 30, 2019 and will be deployed at the Quantum Materials Corp’s licensee’ new Tech City site in Assam India, currently under construction with a target completion date of November 2019.
Quantum Material's is the leader in high volume, low cost, quantum dot production using its patented continuous flow process technologies. Their QDX™ dots have been engineered to provide long-term reliability making them ideally suited for solar, energy storage, lighting and display applications.
Quantum Materials Corp CEO Stephen B. Squires commented, “We are pleased to see our patented technology being deployed in India and we are working closely with our licensees to better understand the Indian market and the nuances of doing business in this rapidly developing region. In addition to our primary mission of developing infrastructure to support roll-to-roll printing of next-generation quantum dot-based thin-film solar cells, the Tech City plant will be developing technology to support commercial production of QD based films for high color gamut flat panel displays as well as QD-LED general lighting and energy storage applications.”
Commenting on the news, M.K. Yadava, CEO of Assam Electronics Development Corp, stated: "We are excited to see our vision taking shape in this exciting new venture to build next generation technology utilizing quantum dot materials. We are making excellent progress in constructing the new quantum dot facilities here at Tech City and with weather permitting, we believe the new facility will be completed according to schedule with an opening date on or about Nov 2019. The required battery of soil, pile load and water quality tests have all been completed at this time. Finish grading and secondary ground preparations for the project area have also been completed and facilities construction work will be commencing at this time."
Squires concluded that, “The Indian market for solar and high efficiency LED lighting technologies holds enormous potential. We believe our strategy to license our technologies to well positioned strategic partners with Indian government participation is a winning combination and one that we intend to continue to build on. With above-ground construction now ready to commence, we expect a steady stream of updates on this project from our partners and will be releasing additional updates on a periodic basis as the project progresses and approaches completion in the fourth quarter of this year.”
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San Marcos Texas, July 23, 2019 (GLOBE NEWSWIRE) -- Leading American cadmium-free quantum dot and nanomaterials manufacturer Quantum Materials Corp (OTCQB: QTMM) today announced an update for the joint quantum dot development/production facility, which is part of the new Tech City project being built in Assam, India being coordinated and funded by licensee Amtronics India LLC. As reported by Amtronics, construction remains on track with no delays to the original schedule even given the fact there has been major expansion to the project's footprint as well as heavy rainfall and flooding experienced in this region during the Monsoon season. Completion date for move-in is still anticipated to be sometime in the mid-to-late fourth quarter of 2019.
Amtronics India LLCs CEO Dr. Tony Balchin stated, “Due to the substantial increase in size of the facility, initially specified at 20,000 sq. ft. and subsequently increased to 75,000 sq. ft., we are now including a multi-story quantum dot laboratory and factory complex incorporating the latest engineering & environmental technologies. Design work is nearly completed and we have appointed a local architectural/engineering company as the "Architect of Record" to prepare conceptual designs as well as execute detailed engineering plans of the project in accordance with all local regulations and building codes. In addition to our appointed local architects, we have engaged a "Lead Architect" experienced in factory and environmental design to ensure our project will be "state of the art". Site development including the artificial lake and infrastructure works in the commons areas have progressed well and are either done or are nearing completion. Test piling for the quantum dot facility has been completed and the structural design is being finalized at this time. As soon as the monsoon season is finished, we will be starting on piling and substructure work followed by superstructure works and we are confident that all above-ground construction of the building will be completed by November/December 2019. At this time we are negotiating with local building contractors/subcontractors and expect to commence above ground construction in early August of this year.”
Regarding specialized quantum dot production equipment for this project, construction of two high volume quantum dot production systems valued at $1M has now been completed. These units are now in transit for delivery to the new quantum dot production facility in Assam, India. The shipment of these two units clears the payment obligation for the first $700,000 of the sale amount which is being satisfied by a Letter of Credit established by ASSAM ELECTRONIC DEVELOPMENT CORPORATION LIMITED (Amtron) to fund this project. Once the equipment has been installed an additional $150,000 will be eligible for transfer to Quantum Materials Corp., with the final $150,000 eligible for payment to Quantum Materials once the units have been certified for production at the facility. Quantum Material's has also received orders for additional quantum dot process equipment totaling roughly $500K. That equipment order is scheduled for delivery during the 4th quarter of this year.
Quantum Materials Corp CEO Stephen B. Squires commented, “Our team is doing a fantastic job of manufacturing and delivering the highly specialized quantum dot production equipment required to fulfill our licensees’ specifications for this forward-thinking project. It is very exciting to see the project footprint increase from 20,000 to 75,000 sq. ft., enabling us to expand our mission of developing infrastructure to support roll to roll printing of next-generation quantum dot based thin-film solar cells. In addition to the core mission of thin film solar cells, the Tech City production plan will also be developing technology to support commercial production of QD-based films for high color gamut flat panel displays as well as QD-LED based general lighting.”
~~~~~~~~~~~~~~~~~~~~~~~~~~~~
San Marcos, TX, Oct. 24, 2019 (GLOBE NEWSWIRE) -- Leading American nanomaterial and cadmium free quantum dot producer and product company Quantum Materials Corp (OTCQB:QTMM) today provided an update on the expansion and construction progress of Tech City in Assam, India, and on the planned commencement of the production of QDXTM Dots there.
Originally planned to occupy 20,000 sq. ft., Tech City is now being constructed to a 75,000 sq. ft. footprint, with redesigned waste management and recycling systems to support the multi-story quantum dot laboratory and factory complex.
“Production of QDXTM Dots is expected to begin in Q1 2020, ahead of the completion of the entire facility,” said Dr. Tony Balchin, CEO of Amtronics India LLC, which is coordinating the project and is the licensee of QMC’s QDXTM Reactor technology. “Despite unprecedented monsoon rainfall in the region, our offsite prefabrication work has continued to allow for expedited installation onsite. Project funding is progressing as planned, which also allows us to advance onsite work.”
QMC intends to upgrade the reactors at Tech City to connect them to its QDXTM Ledger blockchain platform. This will allow the volume of quantum dot production, which is expected to be higher than originally budgeted, to be monitored and appropriate royalties recovered.
“We are grateful to Dr. Balchin and his team for their continued dedication to a timely completion of Tech City and look forward to hosting key Amtronics technical and laboratory staff for specialist training at QMC’s HQ here in San Marcos, Texas,” said Stephen B. Squires, President & CEO of Quantum Materials Corp.
Once Tech City goes live, QMC expects to begin earning royalties from the licensing of its technology in addition to the current and continued revenues from the provision of its QDXTM Reactor systems and ancillary equipment and services.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
September 15 aerial photo shows severe flooding especially in the IIIT area
November 18 aerial view of Tech City and the building at the Gate
Nov18,2019(2min54.4sec).jpg)
Nov 26, 2019 The latest view of Tech City from plane
Construction of the building at the Gate has been ongoing since last summer and has been completed in November as scheduled
(The photos were taken in July, 2019)
Conclusion from above 3 Press Release:
You see, there was no construction anywhere in the Tech City at all since June except in the Common Facilities Centre and in the building at the Gate whose construction started last summer ahead of the announcement of the licensing agreement on Nov 19. There has to be some kind of preparation to secure the reactors before such an announcement, not starting the construction after the licensing agreement. Tony Balchin would not has ordered the reactor in June if there was no place to house it.
June 13 PR: The two systems are scheduled to be delivered to Amtronics LLC on or before June 30, 2019 and will be deployed at the Quantum Materials Corp’s licensee’ new Tech City site in Assam India, currently under construction with a target completion date of November 2019.
July 23 PR: As reported by Amtronics, construction remains on track with no delays to the original schedule even given the fact there has been major expansion to the project's footprint as well as heavy rainfall and flooding experienced in this region during the Monsoon season. Completion date for move-in is still anticipated to be sometime in the mid-to-late fourth quarter of 2019.
Oct 24 PR: Production of QDXTM Dots is expected to begin in Q1 2020, ahead of the completion of the entire facility,” said Dr. Tony Balchin, CEO of Amtronics India LLC, which is coordinating the project and is the licensee of QMC’s QDXTM Reactor technology. “Despite unprecedented monsoon rainfall in the region, our "offsite prefabrication work" has continued to allow for expedited installation onsite. Project funding is progressing as planned, which also allows us to advance onsite work.
In the above 3 PR, it makes sense that Tony Balchin was talking about the building at the Gate which is "offsite" from the Tech City and was being constructed with prefabricated materials. The 2 reactors have been shipped before end of June as described in the June 13 PR and are already installed in the building at the Gate and production will begin in Jan-March, 2020. It is possible Stephen has already received totally $2 million but he is not announcing it but will report it in the February 14 10Q.
If there will be good news on the Counterfeit project in January, share price will surge back to 4-5 cents area, forming a "fail break" phenomenon in the "Head-And-Shoulder" chart pattern, then it is possible the delinquent 10K, the Nov 14 10Q and the Feb 14 10Q will be all filed simultaneously on or before February 14, sending share price soaring, hopefully to 50 cents area.
It is unknown if the Tech City is affected by the flooding, I think there must be preventive barricade around the Tech City to prevent flood water entering it. Oct 24 PR: Production of QDXTM Dots is expected to begin in Q1 2020, ahead of the completion of the entire facility,” said Dr. Tony Balchin. So Tony Balchin was implying quantum dot production plant is not located in the same complex that manufactures the QD application products: Solar, Display, LED Lighting. The complex could be located in Block 4, 5, 6, 7 or in Block 23 ). If the delay in construction of the QD application plant is not due to flooding, then it is due to funding problem. December 5 news said that the Assam government has received 196 Crore (US$27 million) from the Central Government, that could help Amtron to start the construction.
Assam government has just received 196cr from Centre for Guwahati Smart City project: Sidhartha Bhattacharya
https://government.economictimes.indiatimes.c...a/72384488
1 Crore = US$0.142 million
Quantum Material's is the leader in high volume, low cost, quantum dot production using its patented continuous flow process technologies. Their QDX™ dots have been engineered to provide long-term reliability making them ideally suited for solar, energy storage, lighting and display applications.
Quantum Materials Corp CEO Stephen B. Squires commented, “We are pleased to see our patented technology being deployed in India and we are working closely with our licensees to better understand the Indian market and the nuances of doing business in this rapidly developing region. In addition to our primary mission of developing infrastructure to support roll-to-roll printing of next-generation quantum dot-based thin-film solar cells, the Tech City plant will be developing technology to support commercial production of QD based films for high color gamut flat panel displays as well as QD-LED general lighting and energy storage applications.”
Commenting on the news, M.K. Yadava, CEO of Assam Electronics Development Corp, stated: "We are excited to see our vision taking shape in this exciting new venture to build next generation technology utilizing quantum dot materials. We are making excellent progress in constructing the new quantum dot facilities here at Tech City and with weather permitting, we believe the new facility will be completed according to schedule with an opening date on or about Nov 2019. The required battery of soil, pile load and water quality tests have all been completed at this time. Finish grading and secondary ground preparations for the project area have also been completed and facilities construction work will be commencing at this time."
Squires concluded that, “The Indian market for solar and high efficiency LED lighting technologies holds enormous potential. We believe our strategy to license our technologies to well positioned strategic partners with Indian government participation is a winning combination and one that we intend to continue to build on. With above-ground construction now ready to commence, we expect a steady stream of updates on this project from our partners and will be releasing additional updates on a periodic basis as the project progresses and approaches completion in the fourth quarter of this year.”
~~~~~~~~~~~~~~~~~~~~~~~
San Marcos Texas, July 23, 2019 (GLOBE NEWSWIRE) -- Leading American cadmium-free quantum dot and nanomaterials manufacturer Quantum Materials Corp (OTCQB: QTMM) today announced an update for the joint quantum dot development/production facility, which is part of the new Tech City project being built in Assam, India being coordinated and funded by licensee Amtronics India LLC. As reported by Amtronics, construction remains on track with no delays to the original schedule even given the fact there has been major expansion to the project's footprint as well as heavy rainfall and flooding experienced in this region during the Monsoon season. Completion date for move-in is still anticipated to be sometime in the mid-to-late fourth quarter of 2019.
Amtronics India LLCs CEO Dr. Tony Balchin stated, “Due to the substantial increase in size of the facility, initially specified at 20,000 sq. ft. and subsequently increased to 75,000 sq. ft., we are now including a multi-story quantum dot laboratory and factory complex incorporating the latest engineering & environmental technologies. Design work is nearly completed and we have appointed a local architectural/engineering company as the "Architect of Record" to prepare conceptual designs as well as execute detailed engineering plans of the project in accordance with all local regulations and building codes. In addition to our appointed local architects, we have engaged a "Lead Architect" experienced in factory and environmental design to ensure our project will be "state of the art". Site development including the artificial lake and infrastructure works in the commons areas have progressed well and are either done or are nearing completion. Test piling for the quantum dot facility has been completed and the structural design is being finalized at this time. As soon as the monsoon season is finished, we will be starting on piling and substructure work followed by superstructure works and we are confident that all above-ground construction of the building will be completed by November/December 2019. At this time we are negotiating with local building contractors/subcontractors and expect to commence above ground construction in early August of this year.”
Regarding specialized quantum dot production equipment for this project, construction of two high volume quantum dot production systems valued at $1M has now been completed. These units are now in transit for delivery to the new quantum dot production facility in Assam, India. The shipment of these two units clears the payment obligation for the first $700,000 of the sale amount which is being satisfied by a Letter of Credit established by ASSAM ELECTRONIC DEVELOPMENT CORPORATION LIMITED (Amtron) to fund this project. Once the equipment has been installed an additional $150,000 will be eligible for transfer to Quantum Materials Corp., with the final $150,000 eligible for payment to Quantum Materials once the units have been certified for production at the facility. Quantum Material's has also received orders for additional quantum dot process equipment totaling roughly $500K. That equipment order is scheduled for delivery during the 4th quarter of this year.
Quantum Materials Corp CEO Stephen B. Squires commented, “Our team is doing a fantastic job of manufacturing and delivering the highly specialized quantum dot production equipment required to fulfill our licensees’ specifications for this forward-thinking project. It is very exciting to see the project footprint increase from 20,000 to 75,000 sq. ft., enabling us to expand our mission of developing infrastructure to support roll to roll printing of next-generation quantum dot based thin-film solar cells. In addition to the core mission of thin film solar cells, the Tech City production plan will also be developing technology to support commercial production of QD-based films for high color gamut flat panel displays as well as QD-LED based general lighting.”
~~~~~~~~~~~~~~~~~~~~~~~~~~~~
San Marcos, TX, Oct. 24, 2019 (GLOBE NEWSWIRE) -- Leading American nanomaterial and cadmium free quantum dot producer and product company Quantum Materials Corp (OTCQB:QTMM) today provided an update on the expansion and construction progress of Tech City in Assam, India, and on the planned commencement of the production of QDXTM Dots there.
Originally planned to occupy 20,000 sq. ft., Tech City is now being constructed to a 75,000 sq. ft. footprint, with redesigned waste management and recycling systems to support the multi-story quantum dot laboratory and factory complex.
“Production of QDXTM Dots is expected to begin in Q1 2020, ahead of the completion of the entire facility,” said Dr. Tony Balchin, CEO of Amtronics India LLC, which is coordinating the project and is the licensee of QMC’s QDXTM Reactor technology. “Despite unprecedented monsoon rainfall in the region, our offsite prefabrication work has continued to allow for expedited installation onsite. Project funding is progressing as planned, which also allows us to advance onsite work.”
QMC intends to upgrade the reactors at Tech City to connect them to its QDXTM Ledger blockchain platform. This will allow the volume of quantum dot production, which is expected to be higher than originally budgeted, to be monitored and appropriate royalties recovered.
“We are grateful to Dr. Balchin and his team for their continued dedication to a timely completion of Tech City and look forward to hosting key Amtronics technical and laboratory staff for specialist training at QMC’s HQ here in San Marcos, Texas,” said Stephen B. Squires, President & CEO of Quantum Materials Corp.
Once Tech City goes live, QMC expects to begin earning royalties from the licensing of its technology in addition to the current and continued revenues from the provision of its QDXTM Reactor systems and ancillary equipment and services.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
September 15 aerial photo shows severe flooding especially in the IIIT area
November 18 aerial view of Tech City and the building at the Gate
Nov 26, 2019 The latest view of Tech City from plane
Construction of the building at the Gate has been ongoing since last summer and has been completed in November as scheduled
(The photos were taken in July, 2019)
Conclusion from above 3 Press Release:
You see, there was no construction anywhere in the Tech City at all since June except in the Common Facilities Centre and in the building at the Gate whose construction started last summer ahead of the announcement of the licensing agreement on Nov 19. There has to be some kind of preparation to secure the reactors before such an announcement, not starting the construction after the licensing agreement. Tony Balchin would not has ordered the reactor in June if there was no place to house it.
June 13 PR: The two systems are scheduled to be delivered to Amtronics LLC on or before June 30, 2019 and will be deployed at the Quantum Materials Corp’s licensee’ new Tech City site in Assam India, currently under construction with a target completion date of November 2019.
July 23 PR: As reported by Amtronics, construction remains on track with no delays to the original schedule even given the fact there has been major expansion to the project's footprint as well as heavy rainfall and flooding experienced in this region during the Monsoon season. Completion date for move-in is still anticipated to be sometime in the mid-to-late fourth quarter of 2019.
Oct 24 PR: Production of QDXTM Dots is expected to begin in Q1 2020, ahead of the completion of the entire facility,” said Dr. Tony Balchin, CEO of Amtronics India LLC, which is coordinating the project and is the licensee of QMC’s QDXTM Reactor technology. “Despite unprecedented monsoon rainfall in the region, our "offsite prefabrication work" has continued to allow for expedited installation onsite. Project funding is progressing as planned, which also allows us to advance onsite work.
In the above 3 PR, it makes sense that Tony Balchin was talking about the building at the Gate which is "offsite" from the Tech City and was being constructed with prefabricated materials. The 2 reactors have been shipped before end of June as described in the June 13 PR and are already installed in the building at the Gate and production will begin in Jan-March, 2020. It is possible Stephen has already received totally $2 million but he is not announcing it but will report it in the February 14 10Q.
If there will be good news on the Counterfeit project in January, share price will surge back to 4-5 cents area, forming a "fail break" phenomenon in the "Head-And-Shoulder" chart pattern, then it is possible the delinquent 10K, the Nov 14 10Q and the Feb 14 10Q will be all filed simultaneously on or before February 14, sending share price soaring, hopefully to 50 cents area.
It is unknown if the Tech City is affected by the flooding, I think there must be preventive barricade around the Tech City to prevent flood water entering it. Oct 24 PR: Production of QDXTM Dots is expected to begin in Q1 2020, ahead of the completion of the entire facility,” said Dr. Tony Balchin. So Tony Balchin was implying quantum dot production plant is not located in the same complex that manufactures the QD application products: Solar, Display, LED Lighting. The complex could be located in Block 4, 5, 6, 7 or in Block 23 ). If the delay in construction of the QD application plant is not due to flooding, then it is due to funding problem. December 5 news said that the Assam government has received 196 Crore (US$27 million) from the Central Government, that could help Amtron to start the construction.
Assam government has just received 196cr from Centre for Guwahati Smart City project: Sidhartha Bhattacharya
https://government.economictimes.indiatimes.c...a/72384488
1 Crore = US$0.142 million
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