American Graphite Technologies Inc. Announces Equipment Purchase
(Marketwire Via Acquire Media NewsEdge) LAS VEGAS, NV -- (Marketwire) -- 03/21/13 --
American Graphite Technologies Inc. ("AGIN" or the "Company") (OTCBB: AGIN) (BERLIN: A8G) (WKN:A1KBDQ/ISIN:US02640K1079 ) is pleased to announce the purchase of several strategic pieces of equipment by its development and manufacturing partner CTI Nanotechnologies LLC ("CTI") . The equipment was purchased at the auction of the assets of Konaraka Technologies Inc., a manufacturer in OPV (organic photovoltaic) technology.
The equipment includes a laminating line consisting of web handling equipment, drives, steering, slot die deposition coating heads, laminating heaters, an automated fluid pumping/delivery module, vacuum conveyor tables, a vacuum pump, associated electronics, UV curing, high powered laser edge trimmers, 14" slot die applicators, 36" slot die applicators, assorted drying and curing processing equipment, cabinets and racking. The Company paid for the equipment purchased as part of its agreement with CTI.
"The Konarka auction was a great opportunity for CTI to acquire state of the art machinery and equipment at auction prices," said Rick Walchuk, CEO of American Graphite Technologies, Inc. "This equipment can be retrofitted to fit our manufacturing purposes. New replacement cost for this equipment would be well over $1 million and CTI was able to secure it for a fraction of the cost."
American Graphite Technologies Inc. is focused on developing North American graphite mining opportunities along with the commercialization of graphene specific proprietary technology methods to maximize shareholder value.
For more information visit the website at www.americangraphitetech.com
About American Graphite Technologies Inc. American Graphite Technologies Inc. (OTCBB: AGIN ) is a mineral exploration and technology development company that is quoted on the Over-the-Counter Bulletin Board (OTCBB) where the Company's ticker symbol is AGIN and on the Berlin Stock Exchange under the following symbol: A8G (WKN:A1KBDQ/ISIN:US02640K1079). By concentrating on securing graphite mining opportunities and the commercialization of graphene specific proprietary technology methods, management is seeking to bring profitable opportunities and maximize shareholder value. Graphene has been described as the "miracle material" of the 21st Century and is believed to be stronger than steel and more conductive than copper while being flexible, making it plausible as a replacement over silicon possibly leading to thinner, faster, cheaper, more flexible devices including power sources. Since graphene comes from the carbon atom it is abundant and cheap. In 2010 the Nobel Prize in Physics was awarded to Andre Geim and Konstantin Novoselov for groundbreaking experiments regarding graphene. Advances in alternative energy technologies are driving demand for strategic metals like graphite that have recently evolved from industrial demands to include high tech uses as nations focus on encouraging the development of new domestic markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities.
Safe Harbor: Pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals and assumptions of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this release may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions such as "may," "could," or "might" occur. Such statements reflect the current views of CTI with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. American Graphite Technologies Inc. does not undertake any responsibility to update the "forward-looking" statements contained in this news release.
American Graphite Technologies Inc.
For further information call (702) 473-8227
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Source: American Graphite Technologies Inc.
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