Applied Graphene Materials PLC Product Development and New JDA (4596G)
08 August 2016 - 4:00PM
UK Regulatory
TIDMAGM
RNS Number : 4596G
Applied Graphene Materials PLC
08 August 2016
8(th) August 2016
Applied Graphene Materials plc
("Applied Graphene Materials", "AGM", "the Group" or "the
Company")
Accelerated Product Development in Paints Industry and New
JDA
Applied Graphene Materials, the producer of specialty graphene
materials, is pleased to announce that it has achieved outstanding
performance results from proof of concept studies into the use of
its graphene in anti-corrosive coatings. The PRA, an independent
testing consultancy, has evaluated the performance following ISO
standard accelerated weathering and anti-corrosion tests. These
test results have enabled the Company to significantly accelerate
joint developments across the global paints and coatings
industry.
Following considerable work over recent months, AGM has
developed an improved graphene material that has been demonstrated
to deliver a six-fold improvement in barrier and anti-corrosion
properties at low loading levels.
AGM is also delighted to announce that, based on these results,
the Company has signed a Joint Development Agreement (JDA) with
James Briggs Ltd, a large European consumer chemicals business.
James Briggs is a highly innovative formulator and supplier of
aerosol paints and high performance materials to well-known
industry brands across numerous markets.
AGM and James Briggs have already started an accelerated product
development programme with a view to early market exploitation of
graphene. Under the JDA, James Briggs will incorporate graphene
material into its existing paint formulations to deliver
higher-performing primers with improved corrosion protection. The
expectation is that a new range of primers will be launched in
early 2017. Alongside this, the two businesses will be cooperating
on potential applications for lubrication products given the
improved friction properties offered by the application of
graphene.
Tim Pugh, CEO of James Briggs Ltd, commented: "We are keen to
become the first specialty chemicals and coatings company to take
advantage of this exciting new technology. The detailed
understanding that AGM bring of how to get the most out of their
material is impressive and we look forward to rapidly incorporating
graphene into our own extensive range of everyday products."
Ends
For further information, please contact:
Applied Graphene Materials +44 (0) 1642 438 214
Jon Mabbitt, Chief Executive Officer
Oliver Lightowlers, Chief Financial Officer
N+1 Singer +44 (0) 207 496 3000
Richard Lindley / Nick Owen / James White
Hudson Sandler +44 (0) 207 796 4133
Charlie Jack / Emily Dillon
Notes to Editors
Applied Graphene Materials
Applied Graphene Materials was founded by Professor Karl Coleman
in 2010 with its operations and processes based on technology that
was 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. In January 2016 it raised a further GBP8.5m to
support its ongoing activities.
The Group has subsequently developed proprietary bottom-up
processes for the production of high purity graphene nanoplatelets
and owns the intellectual property and know-how behind these
processes. AGM's processes are based upon sustainable, readily
available raw materials and therefore do not rely on the supply of
graphite, unlike many of other graphene production techniques. It
is capable of producing high purity graphene using a continuous
process. AGM provides dispersion and product integration expertise
to deliver solutions for a wide range of applications.
James Briggs
James Briggs is one of Europe's largest consumer chemicals
businesses and employs around 300 staff over two manufacturing
sites in Greater Manchester. The business, founded in 1830,
designs, formulates and manufactures a wide range of products
including paints, lubricants, cleaning fluids and polishes for
automotive, industrial, hygiene and other sectors. James Briggs was
backed by Endless LLP in an MBO in June 2013.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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