Axion is the licensee of patents owned by Rutgers University to commercialize and sell products related to its structural composite technology primarily in North America, South America, Australia, the Caribbean, South Korea, Russia and a portion of the Chinese market based on a “contracts-won” basis. Simultaneously, Sicut is the licensee of patents owned by Rutgers University for Europe, India, South Africa, South-East Asia and a portion of the Chinese market, also based on a “contracts-won” basis.

The Joint Venture will effectively allow Axion and Sicut to combine their respective licensed territories to sell RSC railroad ties and sleepers on a global scale. It is estimated by independent transportation consultancy firm SCI Verkehr that the railroad tie and sleeper market in Europe alone, is worth $3 billion, with the entire global market estimated to be worth approximately $8 billion.

The new joint venture will be called Axion Rail, LLC, and will be established specifically to sell RSC ties to the global rail tie market. The JV does not relate to other applications of RSC technology, aside from railroad ties and sleepers. The JV will be targeting railroad sleeper opportunities using its combined relationships around the world, including those in the large European markets, such as the UK, which replaces approximately 1 million sleepers annually; France, at 1.2 million sleepers annually; and Germany, at roughly 1 million sleepers annually.

Axion’s proprietary RSC material is inert and contains no toxic materials. It is impervious to insect infestation, will never leach toxic chemicals nor warp. Because it is lighter than traditional materials, transporting RSC is less expensive and reduces energy costs. In addition, Axion’s products are completely recyclable at the end of their functional life.

Sicut Holding Limited is a multi-faceted company with interests in recycled technology from Rutgers and infrastructure development in India. Based in Europe via offices in United Kingdom, it is introducing 100% recycled plastic sheets via its brand Vertech and RSC products to European markets. In India, Sicut shareholders provide manufacturing of steel related products to Indian Railways and are involved with energy and infrastructure related projects via partnerships with Chinese state-owned firms. Sicut continually strives to develop new technologies and patents with Rutgers University, to meet client requirements for future needs.