- Company announces $201K revenue for Q3 despite COVID impact
- Nine-month revenue at $646K
- Company adds new customers in thermoelectrics & defense industries
LOS ANGELES, CA / ACCESSWIRE / January 11, 2021 / California Nanotechnologies Corp. ("Cal Nano" or the "Company") is pleased to announce that revenue for the quarter ending November 30, 2020 was $201,102. The Company has achieved nine-month revenue of $646,407 which is comparable to the revenue of $656,657 in same period last year. EPS were nil in Q3 F2020 and Q3 F2021. The full financial statements are available on SEDAR and the Company website.
The Company is also pleased to announce that new customers have been added in the fast-growing thermoelectrics industry. Thermoelectric generator devices are used to convert waste heat into electricity and have the ability to improve the efficiency and sustainability of systems that produce waste heat in many industrial processes and devices, ranging from power plants to vehicles.
"In Q3, we were able to acquire multiple customers in the area of thermoelectrics where we are utilizing our Spark Plasma Sintering technology to help improve their thermoelectric materials. We are currently in the R&D phase of these programs" stated CEO Eric Eyerman. "We are focusing on projects where, if successful, we can see the potential for our technology to generate meaningful commercial revenues over the long term."
Cal Nano would also like to note that it has added a new customer in the aerospace/defense industry. This customer is one of the largest in the industry and Cal Nano has begun multiple R&D programs involving both its SPS and Cryomilling technologies. The Company will look to grow this relationship in coming year.
CEO Eric Eyerman said "although we are in the midst of the COVID-19 pandemic, the Company has been able to expand its customer base due to its expertise and unique capabilities in the innovative Spark Plasma Sintering and Cryogenic Milling technologies. Cal Nano continues to develop its technological capabilities and grow its commercial relationships while concurrently generating revenues that cover our expenses. We continue to accumulate a portfolio of business opportunities that offer Cal Nano the potential to achieve a material improvement in its revenues in the long term."
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SOURCE: California Nanotechnologies Corp