Nano Labs Corp. announced that the company has signed a 50:50 joint venture agreement with POLEC INDUSTRIAS, S de RL de CV to launch a market development program (MDP) to design, manufacture and sell POLEC's product Technosoil, for a term of 20 years. Both the companies are based in Mexico.

The joint venture agreement outlines the establishment of a new corporate entity in the US territory, for the operational and funding requirements of the Polec Technology. The new company will be responsible to research and development (R&D) using Nano Technology, adapt and address market opportunities in the particular territories of the US and Canada as initial commercialization stage for the retail market.