Haydale Graphene Industries PLC GBP1.1 million Innovate UK Loan Agreement (6629T)
26 March 2021 - 10:11PM
UK Regulatory
TIDMHAYD
RNS Number : 6629T
Haydale Graphene Industries PLC
26 March 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
.
For immediate release 26(th) March 2021
Haydale Graphene Industries plc
('Haydale', the 'Company', or the 'Group')
GBP1.1 million Innovate UK Loan Agreement
Haydale (AIM: HAYD), the global advanced materials group , is
pleased to announce that the Company has been awarded a GBP1.1
million loan facility (the "Loan") by Innovate UK Loans Limited
("Innovate UK"), a wholly owned subsidiary of UK Research and
Innovation.
Haydale, with the support of Innovate UK, is implementing its
plan to expand its capacity to manufacture functionalised
nanomaterials including Graphene to meet growing demand. Haydale
will be investing in a HT1400 plasma reactor and ancillary
equipment to provide a facility to be able to increase production
volume by at least eight-fold once fully optimised. The reactor
will increase production at the Ammanford facility to an industrial
level with capacity to functionalise over 30 tonnes per annum of
graphene and other nanomaterials on a single shift pattern.
The Innovation Continuity Loan will be available for the Company
to drawdown in four quarterly tranches, commencing on the 31 March
2021 and the final tranche drawn by 31 December 2021. Loan
repayments will commence 27 months after the final drawdown and be
paid over a subsequent period of 24 months. The Innovation
Continuity Loan attracts at an interest rate of 7.4% per annum
though only paid at 3.7% on the amount drawn down with the rest of
the interest deferred until the repayment period commences. The
Company has signed the standard Innovate UK Loan agreement.
Commenting on the announcement, Keith Broadbent, Chief Executive
Officer of Haydale, said:
"Haydale is delighted to have been awarded this loan by Innovate
UK and is looking forward to significantly expanding our
manufacturing output capacity to be ready to meet growing demand
for our functionalised powders, inks, elastomers and composites. We
are grateful to Innovate UK for their support of our strategy which
will allow Haydale to deepen its roots in the UK industrial
landscape, whilst supporting the UK's high tech and advanced
materials supply chain strategy".
For further information:
Haydale Graphene Industries plc
Keith Broadbent, CEO Tel: +44 (0) 1269 842 946
Gemma Smith, Head of Marketing www.haydale.com
Arden Partners plc (Nominated Adviser
& Broker)
Ruari McGirr / Paul Shackleton / Tel: +44 (0) 20 7614 5900
Ben Cryer
Notes to Editors
Haydale is a global technologies group and service provider that
facilitates the integration of graphene and other nanomaterials
into the next generation of industrial materials and commercial
technologies. With expertise in graphene, other nanomaterials and
Silicon Carbide, Haydale is able to deliver improvements in
electrical, thermal and mechanical properties,. Haydale has been
granted patents for its technologies in Europe, USA, Australia,
Japan and China and operates from five sites in the UK, USA and the
Far East. For more information please visit: www.haydale.com or
Twitter: @haydalegraphene
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