LONDON (Alliance News) - Applied Graphene Materials PLC said Monday it remains pleased with the progress it is making over the course of its current financial year.
Applied Graphene's financial year runs to end-July.
In a statement ahead of its annual general meeting Tuesday the company said that its recently concluded placing and open offer to raise GBP8.5 million has allowed it to continue to plan for a "significant increase" in production capacity, and to fund customer collaborations and joint development activity.
"Our main focus remains 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," said Chairman Bryan Dobson in the statement.
The company did confirm it is collaborating with Sherwin-Williams Protective & Marine Coatings Co, and TWI Ltd.
Shares in Applied Graphene were up 1.5% at 175.00 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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