TIDMAGM
RNS Number : 0341G
Applied Graphene Materials PLC
24 May 2017
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Applied Graphene Materials plc
("Applied Graphene Materials", "AGM" or "the Group")
New Proprietary Graphene Delivery Technology
and Trading Update
Applied Graphene Materials, the producer of specialty graphene
materials, is pleased to provide information about its new,
proprietary technology, Structural Ink(TM) , which enables the
highly targeted delivery of graphene to composites, together with a
trading update.
Significant progress has been made in Applied Graphene
Material's core target market segments of composites and coatings,
including new intellectual property.
Structural Ink(TM)
Applied Graphene Materials has registered a patent having
developed a highly innovative, new technology, Structural Ink(TM) ,
that once fully commercialised will be targeted at the advanced
composites industry.
Structural Ink(TM) comprises the deposition of graphene
nanoplatelets directly onto composite laminates in a controlled and
targeted manner. By adopting Structural Ink(TM) technology, end
users will have the ability to increase mechanical toughness, which
can be derived through the addition of graphene. Application to
specific areas will enable the optimisation of the performance and
structural design of composite materials. Ultimately this will
improve component integrity and performance, enable further weight
reduction and also reduce total manufacturing costs.
Applied Graphene Materials has signed heads of terms for a Joint
Development Agreement (JDA) with the University of Sheffield
Advanced Manufacturing Research Centre with Boeing (AMRC). This JDA
will focus on the development and commercial exploitation of
Structural Ink(TM) technology, through collaboration projects with
AMRC's industry partners. At an early phase in the development
cycle, AGM plans to locate a technology demonstration cell within
the AMRC's Composites Centre.
Richard Scaife, the AMRC Composites Centre Manager, said: "Over
the last 24 months, our research staff and engineers have been
collaborating with Applied Graphene Materials on its Structural
Ink(TM) technology development and we are delighted that we are now
able to progress to a formal, long term agreement. While this
technology is still relatively immature in aerospace terms, we
believe it highlights significant potential for performance
improvements with both weight and cost savings to those designing
critical composite structures. In the near future we will be
sharing information on this technology with our aerospace partners,
but also see the potential for early adoption with partners
operating in less safety critical industrial sectors."
Although at an early phase of its development cycle, four
specialist end-users from different sectors of the composites
industry have committed to explore Structural Ink(TM) . These
include Prodrive Composites Limited ("Prodrive"), which has signed
heads of terms for a Joint Development Agreement with Applied
Graphene Materials to focus on the development towards near term
applications. Prodrive works in the high-end automotive,
motorsport, aerospace and leisure goods sectors, designing and
producing lightweight, high performance composite structures.
John McQuilliam, Chief Engineer of Prodrive Composites commented
"We have investigated the potential for graphene within Prodrive's
business and identified several application areas for development
and ideally early adoption. We feel confident that Applied Graphene
Materials represents a strong partner for Prodrive, having an
approach to development that is both innovative, yet realistic. We
understand that some features of their graphene technology are
quite unique, but are also reassured that adoption into other
commercial composite applications has already been proven."
Trading Update
The Group has continued to make good progress during the year.
Taking the latest forecast into consideration our expectation is
that LBITDA* for the year ending 31(st) July 2017 will be in line
with earlier estimates at a loss of GBP(4.0m) based on revenues for
the current year of GBP0.3m. Cash is expected to be significantly
ahead of expectation at GBP4.5m.
Jon Mabbitt, Chief Executive Officer of Applied Graphene
Materials, said:
"We are very excited about the opportunity that Structural
Ink(TM) opens up for AGM and our customers. Whilst we continue to
collaborate with customers on developing tailored graphene
dispersions for a range of applications, this printing technology
offers AGM another route to market and a tried and tested product
offer that we believe will be very compelling for composites end
users.
It is pleasing that we are being recognized as a highly
supportive and competent development partner for industrial
graphene applications. The foundations we have laid over the last 3
years are really starting to bear fruit. 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 continue to build momentum."
*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
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 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. In January 2016, the Group raised a
further GBP8.5 million to support its ongoing activities.
About the AMRC
The University of Sheffield Advanced Manufacturing Research
Centre with Boeing (AMRC) is a world-class centre for research into
advanced manufacturing technologies used in the aerospace,
automotive, medical and other high-value manufacturing sectors. The
AMRC has a global reputation for helping companies overcome
manufacturing problems and is a model for collaborative research
involving universities, academics and industry worldwide.
Combining state of the art technologies with the AMRC's
expertise in design and prototyping, machining, casting, welding,
additive manufacturing, composites, robotics and automation and
structural testing, has created a manufacturing resource far beyond
anything previously available in the UK.
www.amrc.co.uk
The AMRC is a member of the High Value Manufacturing Catapult, a
consortium of leading manufacturing and process research centres,
backed by the UK's innovation agency, Innovate UK.
About Prodrive Composites
Prodrive is one of the world's largest and most successful
motorsport and technology businesses. They employ more than 500
staff at their headquarters in Banbury and their composites
manufacturing facility in Milton Keynes. While the company is
perhaps best known for motorsport, today it is just one part of an
organisation, which in the last decade has diversified to become a
technology business working in a range of sectors and providing a
range of services.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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