SHANGHAI, Sept. 15, 2017 /PRNewswire/ -- China Carbon Graphite Group, Inc. (OTC: CHGI) ("China Carbon" or the "Company"), a producer engaging in the research and development, production and sales of graphene and graphene oxide, today announced a pilot scale production of high quality graphene oxide was successfully undertaken in a collaboration with Hunan University.
The Company has collaborated with Hunan University on the graphene research since 2012, and was able to previously produce graphene oxide in a multiple-step process. Now the Company integrates multiple steps into only one process in a less than medium pilot scale.
"We are pleased to achieve this great success. We believe it is an important milestone for the Company and has laid a sound foundation for us to take further steps so as to deploy a full automotive large scale pilot production in this industry field in the near future." said Donghai Yu, Chief Executive Officer of China Carbon.
He continued, "market demands for graphene are expected to be between $195 million to $1.3 billion with high growth rate in the next 5 years beginning from 2018. It is our vision to produce 10,000 metric tons of graphene oxide once we secure sufficient capital support."
About China Carbon Graphite Group, Inc.
China Carbon Graphite Group, Inc. (the "Company"), through its subsidiaries, Royal Elite New Energy Science and Technology (Shanghai) Co., Ltd., is engaged in the research and development, production and sales of graphene and graphene oxide and graphite bipolar plates in the People's Republic of China ("China" or the "PRC"). The Company has developed its own graphene prototype and currently produces the products by orders only. The Company outsources the production of large orders to third parties as it has not commercialized its product prototype. For more information, please visit www.chinacarboninc.com.
Safe Harbor Statement
This news release contains forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of China Carbon. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are described more fully in China Carbon's annual report on Form 10-K that was filed with the SEC. Although China Carbon believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by China Carbon or any other person that their objectives or plans will be achieved. China Carbon does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events
Mr. Donghai Yu
Chief Executive Officer
China Carbon Graphite Group Inc.