Category: Baystreet Newswire
Company: Global Energy Systems
Date: Wednesday, September 03, 2014
Toronto, ON / ACCESSWIRE / September 3, 2014 / The agreement secures GE Systems' position as the primary manufacturer and supplier of proprietary Graphene and Carbon Nano Tube (CNT) aircraft parts and materials to the China Aviation Supplies Group, based in Shenzen, China. The scope of the agreement includes an initial tranche of US$2.5 million, with quarterly delivery dates targeting an additional US$10 million USD to be paid up to the fiscal year ending September 2015 and annually thereafter.
Mr. Victor Ansarri, Business Development Manager for GE Systems said "this agreement clearly defines our market readiness and we are thrilled to be a part of the fastest growing aviation composite parts market in the world".
CAS Group Senior Vice president, Mr. Xie Jang remarked, "GE Systems gives us the opportunity to expand our services to include the very latest graphene components, from key frame and structural parts to the upgrading of commercial avionics, such as in-flight entertainment systems and navigational equipment. We are very excited for the future and look forward to working with them."
GE Systems has long identified the aviation industry as the most ready-made market to aggressively seek opportunity for their nano-composite product line, in particular graphene which far outperforms any other material in terms of strength, durability, applicability and overall cost effectiveness. The global market for graphene composite materials in the aviation sector alone is estimated to be worth $70 Billion USD by end of 2015. [Source: Boeing Research and Technology]
About China Aviation Supplies GroupThe China Aviation Supplies Group specializes in the procurement of commercial aircraft and associated repair, maintenance and ground-work support services, including the sale of aircraft supplies. The company also supplies ancillary aviation equipment and facilities, such as specialist ground vehicles, large-scale air traffic control systems, checkout equipment and so on.
About Global Energy Systems
Global Energy Systems is a leading nano materials company involved in the research, development, manufacture and processing of graphene and nano-carbon structured materials and their dispersions. The company produces a range of specialist composite parts tailored predominantly to the aviation industry, as well as other sectors such as clean-energy, advanced transportation and electronics.
Global Energy Systems
1 Yonge Street
Canada M5E 1W7
SOURCE: Global Energy Systems