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Applied Graphene Materials raises £8.5m in shares sale

The fundraising followed a year of good progress in developing our commercial pipeline, including collaborations with a number of blue chip international partners

22 Jan 2016 | Editor

Applied Graphene Materials raises £8.5m in shares sale

Applied Graphene Materials is reported to have raised about £8.5 million in a recent share sale. The new investment is expected to be used to increase substantially its production capacity.

According to Applied Graphene Materials the company remains focused on driving forward opportunities to win production orders with existing commercial partners, along with new joint development agreements and collaborations. The pipeline of opportunities has grown significantly over the last year, although most collaborations remain subject to strict client confidentiality.

The company has also agreed a link-up with leading US paint producer Sherwin-Williams Protective & Marine Coatings and materials and corrosion management firm TWI in order to develop graphene based anti-corrosive coatings. Innovate UK has confirmed that it will be co-funding the collaboration.

Bryan Dobson, Applied Graphene Materials chairman, said, "The fundraising followed a year of good progress in developing our commercial pipeline, including collaborations with a number of blue chip international partners. Bryan added "Corrosion is estimated to cost the British economy £10bn per annum, primarily affecting major infrastructure sectors such as construction, petrochemicals and transport. Organic coatings loaded with hazardous or environmentally harmful metals such as zinc and chromates are commonly used to protect such structures and so it is desirable to find improved and sustainable alternative solutions. Graphene has been identified as an alternative anti-corrosive additive and the collaboration aims to develop the use of graphene in anti-corrosive coatings. As our customer engagements continue to progress, we are confident that the group remains well positioned to become a leading graphene provider."

Corrosion is estimated to cost the British economy £10 billion per annum, primarily affecting major infrastructure sectors such as construction, petrochemicals and transport. Organic coatings loaded with hazardous or environmentally harmful metals such as zinc and chromates are commonly used to protect such structures and so it is desirable to find improved and sustainable alternative solutions.

Graphene has been identified as an alternative anti-corrosive additive and the collaboration aims to develop the use of graphene in anti-corrosive coatings. The corrosion resistance of a coating is not a single property but a summation of many properties such as barrier resistance, electrochemical behaviour, mechanical strength and resistance to damage.

Source: Applied Graphene Materials

www.appliedgraphenematerials.com   


About Applied Graphene Materials

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.

With investment from IP Group, North East Technology Fund and North East POC Fund, Applied Graphene Materials established a commercial-scale production facility at the Wilton Science Park on Teesside, capable of producing high purity graphene using a continuous process.

Following commissioning of this production facility, Applied Graphene Materials has commenced engagement with commercial partners to develop applications for graphene.

Applied Graphene Materials was admitted to AIM in November 2013 under the stock ticker symbol - AGM.

Source: Applied Graphene Materials


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