Coretec Moves Industrial Sector by Linking with German Firm

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Wednesday, July 8, 2020

Industrial stocks have been a little quiet in this column, investors perhaps waiting for exciting news, which finally arrived Wednesday. 

Not too soon, either; industrial stocks were still sluggish on big U.S. market, trailing Tuesday’s close 0.5%, while Toronto’s industrial sector poked up but 0.1%. Alas, nothing avowedly industrial showed up on this radar screen from north of the border. 

Meantime, Ann Arbor, Mich.-based The Coretec Group, Inc. (OTC:CRTG) is a company developing a portfolio of silicon-based materials utilizing Cyclohexasilane. The company is pursuing commercial development of products in energy-focused verticals. Wednesday, it revealed it had entered into a supply partnership with German-based Evonik Industries, a world leader in specialty chemicals.

Evonik generated sales last year of €13.1 billion in 2019. Through the partnership, Coretec will work with Evonik to produce batches of CHS by the end of Q4 2020 to be available for customer application use.

Said Coretec CEO Michael Kraft, "This partnership represents a key milestone in our continued push for commercialization, and is an important step in transitioning CHS from the lab into next generation technologies. We look forward to working with Evonik and continuing to progress our discussions surrounding next steps for CHS manufacturing, its in-country distribution requirements, and the customer service needed to grow sales and revenue."

CRTG paused for lunch Wednesday, but evidently not for long, growing its stock price 17% to 18.73 cents, on volume of 59,000 shares. 

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