Haydale and Everpower to collaborate in China

(ShareCast News) - Global nanomaterials group Haydale Graphene announced on Friday that itself and Everpower International Holdings, a New York-based investment company engaged in investing in "leading edge technologies" and integration into China, have agreed to enter into a collaboration agreement.The AIM-traded firm said as a first step, Everpower has conditionally agreed to make a strategic investment in Haydale of £3.26m to acquire a 9.9% shareholding, through its subsidiary Fu Xing New Materials Development Heze.It confirmed Haydale and Everpower have entered into non-binding heads of terms as a precursor to entering into an exclusive binding collaboration agreement to manufacture, supply and market existing Haydale products and develop nanomaterials and new graphene products for the Chinese market.Haydale's board expected that the partners will negotiate and enter into the collaboration agreement following completion of the proposed investment."The envisaged agreement should provide Haydale with an excellent platform to launch our products into China," said CEO Ray Gibbs."Furthermore, any future collaboration products developed from the association will be allowed to be marketed and sold to the rest of the world by Haydale."Gibbs said China represents a fast moving and significant end market for Haydale, and the board has been seeking a partner to help give it a footprint in the region "for some time"."China is one of the world's largest markets for advanced composites applications and the company has taken its time to find the ideal partner to help maximise the commercial opportunities that arise from our operations there."We are therefore delighted to be working closely with Everpower to introduce nanomaterials and graphene related products in the Chinese market."