03:11 PM EDT, 05/21/2024 (MT Newswires) -- HydroGraph Clean Power ( HGCPF ) , a commercial manufacturer of pristine graphene trading at 52 week highs, said Monday that it has entered into a MOU with Gulf Cryo, which provides industrial, medical and specialty end-to-end gas solutions in the Middle East and Africa (MEA) region. The two companies will collaborate in the production, distribution and selling of HydroGraph's pristine graphene to the Middle East.

Under the terms of the MOU, HydroGraph and Gulf Cryo will jointly assess the local market, and identify placement and operation of a commercial-scale graphene production unit (Hyperion System). HydroGraph will contribute technical, operational and application expertise while Gulf Cryo will bring the essential business development and operating resources.

Tuesday's statement said the partnership will cover key markets in the region, among them the United Arab Emirates (U.A.E.), Bahrain, Kuwait, Oman, Qatar, Jordan and Egypt, and it will focus on the areas of lubricants, resins, bottling and concrete, with the planning and market assessment phases expected to last three to five months.

"We made an initial investment in HydroGraph in November 2023 and now are looking forward to extending the relationship to leverage the enormous investment focus in the region on innovative and sustainable technologies such as graphene," said Amer Huneidi, executive chairman and CEO of Gulf Cryo. "Given that HydroGraph's graphene uses oxygen and acetylene as raw materials, and there is a broad range of potential graphene applications in this region, this is a unique opportunity to extend our product line into new areas."

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