Global Energy Solutions have announced the signing of an agreement to provide proprietary Carbon Nano Tube (CNT) materials as part of a Master Sales Agreement with China Aviation Supplies Group (CAS Group) of Suzhou, China. The scope of the agreement
March 31, 2014 (Newswire) - Global Energy Solutions have announced the signing of an agreement to provide proprietary Carbon Nano Tube (CNT) materials as part of a Master Sales Agreement with China Aviation Supplies Group (CAS Group) of Suzhou, China.
The scope of the agreement includes an initial tranche of $2.5 Million USD with quarterly delivery dates targeting an annual $10 million USD for the fiscal year ending May 2015.
Mr. Dale Lindsay, Business Development Manager for Global Energy Solutions 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, Xie Jang remarked, "Global Energy Solutions gives us the opportunity to expand our services to include frame and structural modifications, in addition to the upgrading of commercial avionics, such as in-flight entertainment systems and navigational equipment. We very much look forward to working with them."
Global Energy Solutions has long identified the aviation industry as the most readymade market to aggressively seek opportunity for their CNT product line. Advanced research has determined CNT and particularly avionics replacement wiring and refurbishment represents the most cost effective alternative available.
The global market for CNT 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 Global Energy Solutions
Global Energy Solutions is a leading composite materials research facility and developer of nanostructured carbon products, including fullerenes, carbon nanotubes and their chemical derivatives. The company produces a range of carbon composite materials tailored predominantly to the aviation industry, in addition to other sectors such as energy, clean-tech and electronic applications. Global Energy Solutions' mission is to play a key role in the research and development of nanostructured composite materials with an on-going commitment to their responsible development and use.
About China Aviation Supplies Group
The 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.