19 June 2018
Haydale, (AIM: HAYD), the global advanced materials group, is pleased to announce that strong commercial progress has been made with a global composite materials group (the "Customer") to enhance mechanical properties for selected products in their range of materials, through a commercially funded contract.
Over the last 12 months, Haydale has completed a series of pre-production trials for the Customer, who for commercial reasons cannot be named, to enhance these selected products' mechanical performance through the incorporation of graphene in a range of world-wide industrial applications. Haydale understands that the market sector for the Customers' products is significant within the global US$100bn composite market. To date, Haydale has been paid approximately US$150,000 by the Customer for these trials, which is included in the Group's current year revenue expectations.
Trial quantity masterbatches were produced using Haydale's extensive knowledge of the most suitable commercially available graphene in consistent, repeatable quality. The graphene was sourced from an overseas supplier and, using Haydale's considerable in-house dispersion and mixing expertise, the required trial quantity masterbatch was produced. Crucially the trial quantities were specifically designed to be incorporated seamlessly into the Customer's production process.
Ray Gibbs, Chief Executive Officer of Haydale, commented: "This contract, fully funded by the Customer, is a perfect example of the work Haydale is doing across a range of composite product applications. We have experienced relatively long lead times with some of our past projects, but this one has been fast-tracked in response to the Customer's desire to launch as soon as possible."
Keith Broadbent, Managing Director of Haydale's Resins, Polymers and Composites strategic business unit, said: "In a relatively short timeframe, Haydale has made excellent progress in delivering on the Customer's needs. It has been pleasing to see Haydale's composite engineers in Loughborough working well with the graphene functionalisation and dispersion team in Ammanford to combine their expertise and turn this major opportunity into a potential industrial product incorporating graphene."
For further information:
|Haydale Graphene Industries plc|
|Ray Gibbs, Chief Executive Officer||Tel: +44 (0) 1269 842 946|
|Matt Wood, Finance Director||www.haydale.com|
|Gemma Smith, Head of Marketing|
|Arden Partners plc (Nominated Adviser & Broker)|
|Ruari McGirr / Paul Shackleton / Ben Cryer||Tel: +44 (0) 20 7614 5900|
|Henry Harrison-Topham / Jamie Hooper / Gemma Mostyn-Owen||Tel: +44 (0) 20 7466 5000|
Notes to Editors
Haydale is a global technologies and materials group that facilitates the integration of graphene and other nanomaterials into the next generation of commercial technologies and industrial materials. With expertise in graphene, silicon carbide and other nanomaterials, Haydale is able to deliver improvements in electrical, thermal and mechanical properties, as well as toughness. Haydale has granted patents for its technologies in Europe, USA, Australia, Japan and China and operates from six sites in the UK, USA and the Far East.
For more information please visit: www.haydale.com