(Alliance News) - Haydale Graphene Industries PLC on Monday said it has been selected for the UK government's Innovate UK scale-up programme to further accelerate the commercialisation of its product pipeline
The Carmarthenshire, Wales-based technology solutions company said the support would specifically go towards its "unique, patented, plasma functionalised formulations in various industries".
This followed passing a "rigorous" three-stage screening process, Haydale said.
Haydale will receive "support, advice and guidance is designed to empower ambitious innovation-focused SMEs in every sector and from seed to scaling stage", it added.
"We have spent a significant amount of time and resources on developing our unique patented, proprietary plasma technology. We are now delighted to have secured the help of Innovate UK EDGE on our scale up journey, continue to grow revenues and build on the existing relationships with world leading partners we are now working with," said Haydale Chief Executive Officer Keith Broadbent.
Shares in Haydale were up 2.0% to 0.50 pence each in London on Monday afternoon.
By Greg Rosenvinge, Alliance News senior reporter
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Haydale (HAYD)