In a development that should come as a major boost for SINT stock, Sintx Technologies Inc (NASDAQ:SINT) announced today that it has reached a collaboration agreement with Japan’s Nissin Manufacturing Company.
Sintx is primarily known for developing and commercializing silicon nitride so that it can be used for both medical and non-medical purposes. The collaboration agreement between the companies is a significant one and one that could have far-reaching ramifications for Sintx.
Key Collaboration
It has been revealed that the two companies are going to collaborate on funding and product development at a freshly minted joint research center located in Kyoto. By way of this collaboration, Nissin and Sintx Technologies are going to develop products that will be sold globally across a range of markets. Sintx is best known for its expertise with regards to silicon nitride technology, while Nissin has the necessary manufacturing technology and the retail network.
On paper, the collaboration seems entirely logical, and it is likely that there is going to be a lot of optimism in the markets with regards to this deal.
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SINT stock is trading higher by 101% at $2.95.
Nissin is one of the world’s biggest companies that is involved in a wide range of businesses, and this collaboration is meant to significantly expand the company’s offerings with regards to consumer products.
The Chief Executive Officer and President of Sintx, Dr. Sonny Bal, spoke about the deal: “The collaboration with Nissin is intended to directly apply our material science expertise toward new product development, and revenues. This is a significant move for SINTX.”
The collaboration is clearly a major development for Sintx Technologies, and the company’s CEO confirmed as such. In light of the new deal, it could be worthwhile for investors to keep a close eye on SINT stock over the coming days.
Featured image: DepositPhotos © SergeyNivens
