ExxonMobil Proxxima™ Polyolefin Thermoset Resin Systems has signed a Letter of Intent (LOI) with Shri Bajrang Power and Ispat Limited (SBPIL) to explore licensing rights for up to five production lines using Neuvokas’s GatorBar® technology for the manufacture of glass fiber reinforced polymer (GFRP) composite rebar in India.
The proposed collaboration aims to support India’s expanding construction and infrastructure sector by evaluating the use of Proxxima™ resin systems, which are designed to enable significantly faster production speeds compared to conventional composite rebar processes, while offering corrosion resistance and reduced weight.
The development also builds on ExxonMobil Proxxima™’s broader global licensing framework with Neuvokas, under which the GatorBar® technology is being introduced to markets outside North America. SBPIL’s flagship brand, Goel TMT, is expected to play a key role in evaluating market adoption through its established distribution network.
The LOI is non-binding and subject to the execution of definitive agreements.