LONDON (Alliance News) - Haydale Graphene Industries PLC on Wednesday said it has secured deals with Swansea University and with Alex Thomson Racing.
Haydale has signed a five-year pipeline deal with Swansea University and Swansea Innovations Ltd.
Under the terms of the agreement, Swansea University and Swansea Innovations will handle a series of research projects to produce prototype applications using a range of materials made by Haydale.
Haydale did not provide financial details on the deal but said it has the rights over any intellectual property which arises over the course of the projects, in exchange for the issue of share warrants in the company. Swansea will be entitled to a royalty income of 2% from any direct sales made by Haydale of the product. If the product is licensed Haydale will keep 90% of the monies and Swansea 10%, Haydale added.
The company has also struck a deal with Alex Thomson Racing, the extreme sailing team, under which its EPL Composite Solutions Ltd subsidiary will review the manufacturing process used by Alex Thomson in order to advise on weight-saving options.
Haydale did not provide any financial details on the contract.
Shares in Haydale were up 3.3% to 102.30 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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