XERI - Xeriant inks JV with Movychem

Xeriant (XERI) announced today that its Czech Republic affiliate, Xeriant Europe has entered into a joint venture with Movychem, Slovakia-based chemical company primarily to further develop applications and new markets for its breakthrough green fire retardant and fire resistant products under the brand name Retacell.Under the agreement, Xeriant Europe has a 50% stake in Movychem Holdings, which will hold all intellectual property rights and patents, as well as exclusivity for distribution of Movychem products in the U.S. market. "The Movychem JV is consistent with our strategy to acquire technologies that advance sustainability and safety in aerospace and can produce near-term revenue," CEO of Xeriant Aerospace Keith Duffy commented.

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Xeriant inks JV with Movychem