LONDON (Alliance News) - Applied Graphene Materials PLC on Tuesday said it was continuing its investment to scale production capacity to meet anticipated customer demand.
At a statement to be made at the speciality graphene materials producer's annual general meeting on Tuesday, Chairman Bryan Dobson said he remained "pleased with the progress" the group was making towards the commercialisation of its products and proprietary technologies.
Dobson noted Applied Graphene was also making progress towards funding customer collaborations and joint development activity, as well as continuing to target further production orders.
In October, the group revealed the first commercial application of its graphene material would see it be used to manufacture fishing rods under the 'Graphex' brand for UK rod maker Century Composites Ltd.
The customised graphene material used in the rods helps to prevent and then deflect the growth of any cracks which may appear, in addition to reinforcing the strength of the rod.
This "demonstrated the mechanical property enhancements that our graphene nanoplatelets deliver", Dobson said in the statement on Tuesday.
"Reflecting the progress we are making the company has continued its investment to scale production capacity in order to meet the anticipated customer demand," the chairman added.
Shares in Applied Graphene were up 2.0% at 129.00 pence on Tuesday morning.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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