TIDMTGR
RNS Number : 6360C
Tirupati Graphite PLC
24 February 2022
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 which is
part of UK law by virtue of the European Union (Withdrawal) Act
2018. Upon the publication of this announcement this information is
considered to be in the public domain.
24 February 2022
Tirupati Graphite plc
('Tirupati' or the 'Company')
Agreement of Exclusive UK Distribution Rights for Flame
Retardant Products
Tirupati Graphite plc (TGR.L, TGRHF.OTCQX), the specialist
graphite and graphene company developing sustainable new age
materials, announces that Tirupati Speciality Graphite Private
Limited ('TSG' ), whom the Company has a binding acquisition
agreement to acquire 100% of the equity shares subject to
regulatory approvals, has signed an exclusive UK marketing and
distribution agreement with Minralis Limited ("Minralis") for TSG's
range of expandable graphite-based CarboflameX(R) and GrafEN
45545(R) products.
TSG is developing a suite of graphite-based products to be used
in hi-tech applications like lithium-ion batteries, composites,
foils, gaskets, thermal management and expandable graphite-based
flame retardant products for which it has secured UK REACH
registration for marketing in the UK.
The Company continues to work on creating global markets for
these graphite-based products and has prioritised the growing UK
demand for flame retardant technology in response to the UK
Government's 2021 commitment to invest GBP5 billion into building
safety, including the replacement of unsafe cladding, following the
enquiry into the 2017 Grenfell Tower tragedy.
TSG offers trademarked, expandable graphite-based flame
retardant composite products for a suite of building materials,
automobile and aerospace components including polyurethane and
latex foams, intumescent tapes, panels, cable jointing compounds
and many more which are known to be effective in curbing fire
threats at the origin and in case of fire, retarding the spread. It
is also known to be more effective in reducing melt dripping, smoke
and toxic gas emissions ultimately reducing the threat to human
life. Advantages of CarboflameX(R) include high compatibility,
customised grades for different flame retardant standards,
stabilised intercalation and non-hygroscopic properties. GrafEN
45545(R) is designed also to directly achieve the HL3 level safety
standard in foams as per the EU's EN 45545 fire safety
standards.
TSG and Minralis have been working in collaboration on product
tests with several buyers and have achieved approval from a number
of Minralis's key clients. This has resulted in a first order from
Minralis for 66 tons of CarboflameX(R), valued at c. US$ 200,000,
to be delivered in three shipments the first of which has sailed,
with the final shipment scheduled to sail mid-March.
Separate to the Minralis agreement, TSG has already received and
fulfilled its first orders in the UK for its CarboflameX(R)
products from established manufacturers of building materials and
thermal management products which is resulting in repeat orders and
it retains the right to sell to buyers it has already been engaged
with as a carve out from the exclusivity agreement with
Minralis.
Through the collaboration, Minralis and TSG expect to reach
first year revenues of US$1 million from the sale of TSG's
graphite-based products before going on to achieve a leadership
position in the growing expandable graphite markets in the UK.
Shishir Poddar, Executive Chairman of Tirupati Graphite,
said:
"The expandable Graphite markets in the UK are growing at a
rapid pace with some buyers reporting that their orders have
doubled year-on-year. This is an opportune time for us to establish
ourselves in this niche product arena in our home markets, which
may prompt us to consider creating downstream facilities for the
suite of products in the UK, including for lithium-ion anode
materials, and potentially graphene. We see this as a beginning
that will provide us opportunities in the UK market to lay the
foundations for realising the future potential of the fire safety
and energy transition arena which are the core of our growth
drivers.
"The Company's graphite-based flame retardant products offers
considerable advantages given the extensive remedial work required
to meet the Government's building and construction safety
commitments. In Minralis, with their history and longstanding
relationships of the principal directors with customers in the UK
market for flame retardant and other expandable graphite markets,
we have secured a great partner. We look forward to working with
Minralis to accelerate our speciality graphite sales in the UK
market."
Nigel Lockwood, Director of Minralis, said:
"I have been engaged in the flame retardant and other expandable
graphite markets for decades, and as such we are fortunate indeed
to enjoy excellent working relationships with the largest users of
expandable graphite products in the UK. Since we began
collaboration with Tirupati we have been hugely impressed and
excited by the unrivalled technical excellence of not only the
existing expandable graphite range, but also by the pipeline of
ground breaking products that will ensure our combined ascendancy
to a leading position in the passive fire protection sector in the
UK."
ENDS
For further information, please visit
https://www.tirupatigraphite.co.uk/ or contact:
Tirupati Graphite Plc
Puruvi Poddar - Chief of Corporate & Business admin@tirupatigraphite.co.uk
Development +44 (0) 20 39849894
Optiva Securities Limited (Broker)
Ben Maitland - Corporate Finance +44 (0) 20 3034 2707
Robert Emmet - Corporate Broking +44 (0) 20 3981 4173
FTI Consulting (Financial PR) +44 (0) 20 3727 1000
Ben Brewerton / Nick Hennis / Ojasvi Goel tirupati@fticonsulting.com
/ Kelly Smith
About Tirupati Graphite
Tirupati Graphite Plc is the specialist graphite and graphene
company developing sustainable new age materials. With a unique set
of properties, graphite has diverse applications with multiple
growth streams and graphene forms the new generation of 2D and
advanced materials. The Company places a special emphasis on
"green" applications, including renewable energy and energy
efficiency, energy storage, thermal management, and advanced
materials development, and is committed to ensuring its operations
are sustainable as well.
The Company's operations include primary mining and processing
in Madagascar, where the Company operates two key projects,
Sahamamy and Vatomina; 12,000 tpa installed capacity of
high-quality flake graphite concentrate with up to 96% purity is
currently being produced and sold to customers globally, planned to
increase to 84,000 tpa by end 2024 as per the Company's modular
medium-term development plan.
In India, through Tirupati Speciality Graphite Private Limited
('TSG'), whom the Company has a binding acquisition agreement to
acquire 100% of the equity shares subject to regulatory approvals,
Tirupati is developing a suite of speciality graphite for use in
hi-tech applications like lithium-ion batteries, fire retardants,
thermal management, and composites. Its current operations include
the 1,200 tpa Patalganga Project, focused on manufacturing the
Company's trademarked expandable graphite products CARBOFLAMEX(R)
and GrafEN 45545(TM). TSG is further expanding the Patalganga
Project to 4,800 tpa and developing the 30,000 tpa specialty
graphite project in two 15,000 tpa modules which will include
capabilities to manufacture high-purity, expandable, micronized and
spherical graphite and using its unique green processing
technologies for the manufacturing of these advanced materials.
TSG has also established and continues to develop the Tirupati
Graphene and Mintech Research Centre, a state-of-the-art R&D
centre focussed on manufacturing graphene, developing its
applications and advanced materials using graphene, and further
providing environmentally friendly technologies consultancy for
mineral processing.
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