(Yicai Global) April 19 -- Shares of Der Future Science and Technology Holding Group gained by the daily trading limit after the company said a unit that makes graphene synthesis equipment is joining hands with a Nobel Prize winner to form a joint venture.
Xiamen-based G-CVD Graphene Technology will form the JV with Dr. Konstantin Sergeevich Novoselov, Der Future said in a statement this afternoon. The new company will focus on graphene material applications, including in smart wear, energy, devices and functional coatings, as well as the research and application of two-dimensional semiconductor materials.
Suzhou-based Der Future [SHE:002631] surged 10 percent to end the day at CNY10.01 (USD1.49) a share, its highest level in more than a year.
Novoselov is a professor at the UK's University of Manchester and has been committed to graphene research, the statement added, saying that he and Andre Geim won the Noble Prize in Physics in 2010 for their breakthroughs in graphene experiments.
The JV will be located in Xiamen in China's southeastern province of Fujian. It will have registered capital of CNY5 million (USD745,575); 30 percent from Novoselov and 10 percent from G-CVD Graphene.
Two other people will invest CNY2.5 million and CNY500,000 for stakes of 50 percent and 10 percent. The statement provided no further details on the investment and business backgrounds of these other investors or the JV's plans for research and development and market expansion.
G-CVD Graphene was founded by five PhD graduates from the Chinese Academy of Sciences in 2012 and is one of the earliest high-tech firms specializing in the development of graphene manufacturing devices and product application, according to the firm's website.