SABIC and Lockheed Martin has announced the launching of a partnership to explore the establishment of a new joint venture company in Saudi Arabia to develop carbon nanostructure materials for a variety of end markets and applications.
Under the signed Memorandum of Understanding, SABIC and Lockheed Martin will coordinate on the development, industrial validation, testing, scale-up, production and sale of carbon nanostructure materials and carbon nanostructure infused products. Carbon nanostructures can be grown at scale on various substrates and formed into materials with superior structural and conductive properties.
Commenting on the joint venture MoU, Ernesto Occhiello, SABIC Executive Vice President, Technology & Innovation said;
We are happy that Lockheed Martin has shown their intention to share their newly developed technology with SABIC. An innovative partner like Lockheed Martin is indeed valuable to us, and we hope the initiative will be the beginning of a longer term relationship with the company.