Applied Graphene Materials PLC James Briggs Commercial Agreement & Trading Update (7933O)
May 22 2018 - 6:43AM
UK Regulatory
TIDMAGM
RNS Number : 7933O
Applied Graphene Materials PLC
22 May 2018
Applied Graphene Materials plc
("Applied Graphene Materials", "AGM" or "the Group")
Commercial agreement with James Briggs Limited and Trading
Update
Applied Graphene Materials, the producer of specialty graphene
materials, is pleased to announce that James Briggs Limited
("JBL"), a leading independent chemicals business, intends to bring
a new range of aerosol paint primers containing AGM's graphene to
market during the last quarter of 2018.
Due to the outstanding results achieved in coating properties
through the incorporation of AGM's graphene Genable(R) dispersion
into their paints JBL anticipates extending the use of graphene
technology into other product lines within their range.
Jim Miller, JBL's Commercial Director commented, "The 2 year
development collaboration between JBL and AGM has resulted in our
first products coming to fruition. The programme has encompassed
both processing and formulation optimisation studies and ultimately
demonstrated that AGM's graphene nanoplatelets can deliver a
significant extension to coating life against environmental
corrosion effects".
Jon Mabbitt, Chief Executive Officer of Applied Graphene
Materials, said:
"I am delighted that after extensive testing we have
successfully demonstrated the commercial benefits of incorporating
AGM's graphene into a coatings application on an industrial scale.
We are continuing to work closely with JBL both for the initial
roll out programme and to extend incorporation of our graphene into
other JBL products. This is clear validation of our focused
strategy of demonstrating AGM's ability to deliver significant
material enhancements that can be incorporated on an industrial
scale within the coatings sector. We remain confident that this
will be the first of many coating applications utilising our
graphene."
AGM is also pleased to announce that it has received first
orders for both its Structural Ink materials and its Genable G4400
thermal paste. Both products are being sold within the composites
industry and represent a significant step forwards in wider
acceptability of graphene in this sector.
Trading Update
The Group also anticipates that trading for the year ending
31(st) July 2018 will produce a LBITDA* of GBP(3.9m), with
production revenues for the current year of GBP0.1m. Cash is
expected to be in line with forecast at GBP10.1m.
*LBITDA comprises loss on ordinary activities before interest,
tax, exceptional costs, depreciation and amortisation
Ends
For further information, please contact:
Applied Graphene Materials +44 (0) 1642 438 214
Jon Mabbitt, Chief Executive Officer
Gareth Jones, Chief Financial Officer
N+1 Singer +44 (0) 207 496 3000
Richard Lindley / James White
Hudson Sandler +44 (0) 207 796 4133
Charlie Jack / Emily Dillon
Notes to Editors
About Applied Graphene Materials
Applied Graphene Materials works in partnership with its
customers using its knowledge and expertise to provide bespoke
graphene dispersions and formats to deliver enhancements and
benefits for a wide range of applications. The Group's strategy is
to target commercial application in three core markets: coatings,
composites and polymers and functional fluids.
The Group has developed proprietary bottom-up processes capable
of producing high purity graphene nanoplatelets using a continuous
process. The manufacturing processes are based on sustainable,
readily available raw materials and therefore do not rely on the
supply of graphite, unlike most other graphene production
techniques. Applied Graphene Materials owns the intellectual
property and know-how behind these processes.
Applied Graphene Materials was founded by Professor Karl Coleman
in 2010 with its operations and processes based on technology that
he initially developed at Durham University. The Group was admitted
to AIM in November 2013, raising GBP11 million, and is based at the
Wilton Site on Teesside.
About James Briggs Limited
Established in 1830 JBL is a leading independent paint
manufacturer, combining extensive technical expertise with
industry-leading design to provide bespoke packaging and product
decoration. Today, JBL produce around 50 million aerosol cans per
year of which their own Hycote primer is a small, but significant
proportion.
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END
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