Catalist-listed Metech International announced, on Jan 3, that it had entered into a tripartite collaboration with TEINYO and Yuhang Technology to establish a joint laboratory for the research and development (R&D) of new materials in Shenzhen, China.
The agreement was signed on Dec 31, 2021, via Metech’s joint venture company (JVC), Asian Eco Technology.
TEINYO belongs to the HIT Robot Group, which is a leading brand of scientific rehabilitation in China, while Yuhang Technology specialises in intelligent manufacturing systems and the industrial applications of artificial intelligence-based Internet of Things.
According to Samantha Hua, deputy chief executive officer and executive director of Metech, the company aims to “revolutionise commercial and research applications of [a] diamond by creating new materials with lab-grown diamonds and making them more affordable and easily available for wider adoption for the next generation of industrial applications within the semiconductors, aerospace, electric vehicles, medical equipment field, among others.”
On Sept 26, 2021, Metech International announced that it had set up a JV to produce “lab-grown” diamonds, which was said to be growing in demand.
Shares in Metech closed at 35 cents on Dec 31, 2021.
