TIDMAGM
RNS Number : 4139Y
Applied Graphene Materials PLC
03 March 2017
Applied Graphene Materials plc
("Applied Graphene Materials", "AGM" or "the Group" or the
"Company")
Period End Operational Update and Notice of Results
Significant commercial progress in AGM's three core sectors
Ahead of the Company's interim results for the six months ended
31 January 2017, which are expected to be announced on 11(th) April
2017, Applied Graphene Materials, the producer of specialty
graphene materials, is pleased to give the following period end
update on its operational progress during the last six months.
Key highlights:
Significant progress has been made in all of AGM's core target
market segments of composites, coatings and oils & lubricants,
including repeat sampling and first production orders and the
acceleration of joint development activity with a number of
commercial partners including some global operations:
Composites Sector
-- Development of graphene enhanced pre-impregnated composites (prepregs) with SHD Composites
-- Collaboration with Century Fishing Rods leading to first production orders
-- Development of enhanced aerospace structures
-- Product development with Airbus Defence and Space
Coatings
-- JDA with James Briggs Ltd
-- ISO testing results proving outstanding corrosion barrier properties
Oils and Lubricants
-- PURAGLOBE commenced test-marketing AGM graphene enhanced sustainable base oil technology
Composites
Graphene enhanced prepregs after joint development between AGM
and SHD Composites
Following 18 months of collaboration with SHD Composites Ltd
(SHD), SHD will officially launch an industry leading AGM graphene
enhanced epoxy prepreg system - MTC9800 - at the JEC World
exhibition (Paris, March 14-16). MTC9800 has already been
test-marketed in production volumes to launch to customers and is
supported by data that demonstrates outstanding mechanical
properties, particularly in fracture toughness, interlaminar shear
and compression performance. MTC9800 is suitable for a range of
industrial applications, particularly where customers are looking
to further reduce weight and extend the life of parts over repeated
loading cycles. Anticipated early industrial applications include,
amongst others, Motorsport, Sporting Goods and Renewable
Energy.
Collaboration with Century Fishing Rods
Over the last 18 months AGM has collaborated successfully with
Century to develop and produce a demonstrable working application
for its graphene nano-platelets (A-GNPs). Century has designed,
tested and fully evaluated a range of next generation, graphene
reinforced, high performance rods. Initial in-house testing and
validation of the Century GT1000 rod was followed by extensive, and
near destructive, field testing against large and powerful pelagic
fish off the Ascension Islands. Century is successfully marketing
its new range of graphene reinforced rods to a global customer
base.
Graphene development for aerospace structures
AGM has recently completed the first phase of a development
project with the University of West Scotland (UWS), Spirit
AeroSystems, and other industry partners whose identity we are
unable to disclose due to commercial confidentiality, investigating
the applicability of AGM's graphene for enhancing the mechanical
performance of resin infused Aerospace structures. Incorporation of
AGM's graphene has delivered results that increase shear strength
and fracture toughness. AGM and UWS consider these initial findings
to be highly encouraging and further optimisation development work
has already commenced in building on these baseline
improvements.
Product development with Airbus Defence and Space
During 2016, AGM successfully completed the exploratory phase of
its development program with Airbus Defence and Space. The details
of the program work are subject to a strict non-disclosure
agreement. However, the Group can disclose that it is focused on
using the unique properties of graphene in satellites. Based on the
success of the initial work, both parties are now collaborating on
a final product development stage, with the aim of qualifying the
material for flight use and first application by early 2018.
Coatings
JDA with James Briggs Ltd following accelerated product
development
The Company has continued to work closely with James Briggs
Limited over the past few months. Particular focus has been on
coatings products where the inclusion of graphene has been seen to
demonstrate improved anti-corrosive properties which, in turn,
potentially increases the life cycle of painted items. To date, we
have seen some encouraging results. The focus now is to optimise
the product formulation and ensure the appropriate development and
testing regime is followed which, depending on precise outcomes, is
typically a further 3 to 6 month lead-time before product
launch.
Testing - Creating new barriers with graphene
An independent test programme investigating the addition of
A-GNPs to epoxy coatings, has shown outstanding performance
enhancements based on industry ISO standard anti-corrosion and
barrier tests. The tests were carried out by PRA (an independent
testing consultancy) and demonstrated that very small additions of
A-GNPs decreased water vapour transmission rates by up to 95% and
extended time to initial corrosion in excess of 500%. The results
were achieved with dispersions based on AGM's uniquely synthesised
graphene nanoplatelets.
Oils and lubricants
PURAGLOBE - developing graphene-enhanced, sustainable high
performance base oils
AGM has continued its collaboration with PURAGLOBE in developing
sustainable base oils, enhanced with graphene nano-platelets.
PURAGLOBE has recently commenced test-marketing its sustainable
base oil technology, enhanced by the addition of AGM's unique,
synthesised nano-platelets. Initial customer engagement has been
aimed at businesses developing innovative lubricant technology in
both Industrial fluids such as gear oil, metal working up to
greases, as well as driveline fluids, where PURAGLOBE's graphene
enhanced, sustainable base oils will offer finished lubricant
manufacturers the opportunity to formulate products with
exceptional sustainability and protection. Greater protection
against friction and wear can help extend the lifecycle of parts
and reduce downtime of equipment. This synergistic effect leads to
savings in manufacturing and production costs and reduces the
demand for replacement parts, which lowers the carbon footprint
involved in manufacturing and operations.
Jon Mabbitt, Chief Executive Officer of Applied Graphene
Materials, said:
"I am pleased that we are demonstrating substantial progress as
a result of the hard work since IPO and over the last six months in
particular. We have consistently focused on the core markets where
we know we can deliver significant enhancements for large-scale
industries and our collaborations across these areas are now
gaining considerable momentum."
Ends
For further information, please contact:
Applied Graphene Materials +44 (0) 1642 438 214
Jon Mabbitt, Chief Executive Officer
N+1 Singer +44 (0) 207 496 3000
Richard Lindley / Nick Owen
Hudson Sandler +44 (0) 207 796 4133
Charlie Jack / Emily Dillon / Jocelyn Spottiswoode
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 which
are 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 a number of 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. In January 2016 the Group raised a further
GBP8.5 million to support its ongoing activities.
This information is provided by RNS
The company news service from the London Stock Exchange
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