CARBO and PicOnyx Finalize Partnership for Production of M-Tone Black Pigments

CARBO Ceramics Inc. and PicOnyx, Inc., both based in Houston, have executed the definitive agreements that will govern their previously announced strategic partnership for the production of M-Tone, an innovative family of versatile, high performance, functional black pigments for the plastics, paint, inks, coatings and adhesives markets.

PicOnyx, Inc. was formed in 2015 to commercialize M-Tone which is said to deliver performance benefits to the user beyond its deep black, highly opaque color. M-Tone reportedly provides a versatile alternative to incumbent pigments with unrivaled performance characteristics in thermal, chemical and abrasion resistance, broad compatibility, and economic processing. As a chemically inert ceramic material it is said to be unrivaled in its safety and environmental friendliness.

Under the terms of the definitive agreements, CARBO will provide certain production assets and services to PicOnyx and will provide PicOnyx with significant manufacturing capacity, production capabilities and resources to support PicOnyx’s aggressive growth plans for M-Tone. In exchange for its contributions and services, CARBO will obtain an equity stake in PicOnyx, and under the terms of a contract manufacturing agreement, CARBO will produce M-Tone for PicOnyx on a cost-plus basis. The manufacturing operation, located in Louisiana, is expected to be operational in the fourth quarter of 2019 and will be capable of supporting PicOnyx’s expected production needs for the next several years.