Through its Netherland based subsidiary - Graphite International BV
Graphite India through its wholly owned subsidiary in Netherlands, Graphite International BV has signed a definitive agreement for investment upto US$ 18.6 million in cash in General Graphene Corporation (General Graphene). This investment would constitute approximately 46% stake in General Graphene and is aligned to the Company's core business segment of Carbon and Graphite.General Graphene, a US based unlisted company located in Knoxville (Tennessee), has developed a breakthrough proprietary technology which would allow them to produce large area, low cost graphene sheets industrial volumes for commercial applications. The investment will be made in multiple tranches over 2 to 3 years, based on the achievement of agreed milestones in the process of commercial production of graphene sheets.
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