PR1 updates on carbon nanotube Rice Uni work program
Our Investment Pure Resources (ASX: PR1) just announced an update to the r&d colab agreement signed with Rice University.
PR1 is working with Rice to take proven carbon nanotube technology and apply it to thermal heat management for uses including in data centres and defence.
(more on what carbon nanotube tech is later)
The two biggest takeaways from today's announcement:
PR1 said end users are already engaged.
PR1 said today that multiple organisations are interested in this IP program.
(source)
That means the people who would actually buy this technology are already talking to PR1 and Rice - and helping shape the direction of the R&D from the start.
PR1 is deliberately going about building the end user relationship alongside the science rather than finishing the research and then trying to find customers afterwards.
US government funding applications are underway.
PR1 and the Rice team have identified a pipeline of federal programs across both the Department of Defence (DoD) and Department of Energy (DoE).
These US federal funding programs also align with the CNTF thermal management that PR1 is working to set up.
Applications to multiple funding vehicles have already commenced or been completed, so we look forward to seeing what PR1 can receive from this.
(source)
US government funding could both show validation of the potential of the technology and accelerate the path to commercialisation.
Similar to what we've seen with Perpetua Resources' antimony project getting over US$2BN in US government support along with permitting acceleration last year.
The other key piece of information today was PR1 outlining the workstreams as part of its colab agreement:
(source)
So now we know what type of newsflow to expect from the collab agreement over the coming months.
We are Invested in PR1 because:
- Our three favourite macro thematics - AI, Robotics and Defence
- First micro-cap on the ASX going after thermal management
- Collaboration deal with Rice University who were involved in multiple ASX tech success stories.
- Proven technology that’s been funded by the US DoE and DoW
- PR1 is collaborating with experts in carbon nanotube fibres and thermal management
- Tiny market cap and tight capital structure
Check out our full initiation note here: Our Latest Investment: Pure Resources (ASX: PR1) - Thermal Management for AI data centres, Military and Robotics with Rice University
What are carbon nanotubes?
We have to admit, we didn't know much about carbon nanotubes until recently.
After going down a rabbit hole of research papers (thanks to AI) it started looking like this material may just “one shot” copper cabling and the whole AI datacentre copper bull case.
To that point, last week, DexMat (the company set up by the same Rice Uni team that is working with PR1) actually published a blog specifically addressing “Why copper cables in data centres are hitting a wall”.
(even copper’s job as a conductivity metal is at risk because, is anyone’s job safe?)
(source)
But for us, the more exciting parallel is all of the different applications that material could have - like a gateway material for new technologies to be developed on top of.
Which is where PR1 comes into play.
Professor Pasquali's lab at Rice University creates the carbon nanotube fibres - PR1’s Rice team takes those fibres and creates new market applications for it.
With the first market being “thermal management”.
So why PR1 and why thermal management?
The carbon nanotube fibres (think of them like wires) have thermal conductivity that is around ~10x copper (this is the individual nanotube strands) from Dexmat’s website.
When built into larger structures Dexmat’s product is still ~17% more conductive relative to copper. (source)
And 80% lighter.
(perfect for thermal management in tight compact places)
Higher thermal conductivity = higher cooling requirements.
That’s where thermal interface materials (TIMs) and heat sinks matter.
AND where PR1 is focusing with its collaboration deal.
Ever seen one of these inside a computer?
That's the heat sink that sits between the chip and the cooling equipment (in the above case a fan).
Here is where the carbon nanotubes would fit - replacing the (mostly aluminium or copper) heat sink materials - because carbon nanotube fibres are more conductive and can transfer heat away from the chip more effectively.
More efficient heat transfer = lower cooling requirements.
(Source)
A carbon nanomaterial made of extremely aligned and densely packed carbon nanotubes, processed into continuous fibres and thin films:
(source: PR1 announcement)
Rice University is a leader in carbon nanotube fibre technology
PR1’s new R&D collaboration partner, Rice University, is one of the world leaders in carbon nanotube fibre tech.
Rice University's Carbon Hub (led by Professor Matteo Pasquali) developed the technology behind a carbon nanotube fibre (called Galvorn).
That tech is being commercialised by a company called Dexmat in aerospace, high‑end cables, wearables, and specialty industrial uses.
(so the carbon nano fibre tech already exists, PR1 in collaboration with Rice is going after building on the mature technology and applying it to thermal cooling markets)
Dexmat is backed by Shell Ventures, the corporate venture capital arm of energy supermajor Shell plc.
It has also received funding from the US Department of Energy, NASA, the US Air Force, and ARPA-E.
AND NOW - Rice has partnered with PR1 to work out how to apply this same carbon nanotube fibres tech to thermal management.
(The co-founder of Dexmat - Professor Matteo Pasquali - is also leading the collaboration deal with PR1)
And under the terms of the R&D collaboration agreement, any IP that gets developed would be jointly owned by PR1 and Rice.
“Both Pure and Rice will have joint ownership of any intellectual property where there are inventors from both Rice and Pure Resources.” (source)
(source)
Check out our full initiation note here: Our Latest Investment: Pure Resources (ASX: PR1) - Thermal Management for AI data centres, Military and Robotics with Rice University
What we want to see next from PR1
🔄 US government funding outcomes
PR1 has commenced applications to DOE and DOD funding programs. We want to see at least one of these land - it would validate the program and provide additional capital. Today PR1 confirmed that these have been progressed with smoke applications completed:
(source)
🔄 End user collaboration progress
Multiple organisations are already engaging. We want to see this progress toward joint development agreements or testing partnerships with named parties.
🔲 Workstream milestones
With 8 workstreams now defined, we want to see PR1 start ticking off deliverables - starting with feedstock qualification and fibre synthesis. Today PR1 confirmed the 8 step program to get this underway.
