The Coretec Group Releases CEO Letter Announcing Shareholder Call Updates and Key CHS Commercialization Milestones
ANN ARBOR, MI / ACCESSWIRE / July 21, 2020 / The Coretec Group, Inc., (OTC PINK:CRTG) (the "Company"), a company developing a portfolio of silicon-based materials utilizing Cyclohexasilane ("CHS") to pursue commercial development of products in energy-focused verticals, today issued a letter from CEO Michael Kraft to its shareholders:
Dear Coretec Shareholders and Interested Parties:
Thank you for your interest and ongoing support of The Coretec Group (Coretec).
We'd like to highlight key milestones achieved in Q2 2020 that showcase Coretec's continued growth in the form of new partnerships, provisional patents, hires, strategic moves and progress made towards commercializing the Company's cyclohexasilane (CHS) technology.
Among the most important updates for the commercialization of CHS is our recently announced manufacturing partnership with Evonik Industries, a world leader in specialty chemicals. Through this partnership, Coretec will work with Evonik to produce pilot level volumes of CHS by the end of Q4 2020 which will then be available for customer application development.
In late June, Coretec also took another significant step towards commercialization by filing a provisional patent on next-generation CHS-enabled LED designs with enhanced capabilities. The provisional patent details our novel methods for LED technologies that are targeted at Ultraviolet (UV) light as a coronavirus and microbial disinfectant, LED frequencies used in vertical agriculture and high power LEDs.
In addition to the CHS manufacturing and patent updates, Coretec has also made changes for general productivity and efficiency by consolidating the workforce in our Ann Arbor office and permanently closing the Tulsa office. As of July 1, 2020, all Coretec employees are now operating out of the Ann Arbor office where access to talent and strategic partnerships are readily accessible. This move comes after the retirement of two Tulsa-based team members who were essential to the growth of the company - former CFO Ronald Robinson, and former Office Manager/Corporate Secretary Judith Keating. Ron and Judy have been integral to Coretec/3DIcon's success for over a decade and I want to thank them for their dedicated service. They both plan to enter full retirement and focus on personal commitments and family. I have enjoyed working with them both very much and wish them well in their retirement.
Following the retirement of Ronald Robinson, Coretec's former Director of Finance, Matthew Hoffman, has been appointed as the Chief Financial Officer (CFO). Ron was great with helping Matthew transition into the CFO role which Matt was formally appointed to on June 30, 2020. In his new position, Matthew is managing the Company's SEC filings and financial strategy, and I look forward to Matt's help in day to day operations as well as building the company's sound financial future.
Finally, tomorrow, Wednesday, July 22, 2020 at 10:00am EDT, we will be holding a shareholder call to highlight these corporate updates, and answer questions from our shareholders about the Company's recent activity and strategic goals. To join the shareholder call, please visit our News & Events page for dial in details, or use the toll-free number 877-407-0839.
CEO - The Coretec Group Inc.
To learn more about The Coretec Group, please visit www.thecoretecgroup.com.
About The Coretec Group, Inc.
The Coretec Group, Inc. (the "Company") utilizes a portfolio of silicon-based and volumetric display materials to pursue commercial development of products in energy-focused verticals such as energy storage, solar, and solid-state lighting, as well as printable electronics and 3D volumetric displays. For more information, visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and Facebook.
The statements in this press release that relate to the company's expectations with regard to the future impact on the company's results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
The Coretec Group, Inc.
FischTank Marketing and PR
SOURCE: The Coretec Group Inc.
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Released July 21, 2020