NanoXplore Inc. announce that it has increased the production capacity of its St-Clotilde, QC plant to meet an existing customer?s need for increased graphene-enhanced SMC parts in an active program. This capacity expansion, which is part of its 5-year strategic plan and related to the SMC lightweighting initiative, begins immediately. This expansion, in two phases, will contribute $2M in incremental revenues during calendar 2024 and once fully scaled-up, is expected to contribute $8M to $10M annually beginning in calendar 2025.

Moreover, a significant part of the capacity expansion costs will be assumed by the customer. Customer has committed to purchase the additional equipment required for this program and consequently, the previously announced SMC lightweighting initiative capex of $30M to $35M will now be in a range of $25M to $30M. The Corporation is also pleased to announce the recent appointment of Pierre-Yves Terrisse as Vice-President of Corporate Development.

In his role Pierre-Yves will be responsible for NanoXplore?s function and strategy of investor relations, including articulating the Corporation?s growth plan, business and financial objectives to the investment community. His network of institutional investors, sell-side financial community, combined with his expertise, will reinforce the Corporation's profile and strength. Finally, Pierre-Yves will engage and evaluate M&A opportunities, as well as participate in financing structure.

Pierre-Yves has more than 25 years of experience in the investment industry in various role spanning from financial analyst to MD Investment banking. Pierre-Yves holds a Bachelor of Business Administration from Université du Québec à Montréal.