(Alliance News) - Haydale Graphene Industries PLC's shares jumped on Wednesday, on news that it has struck an agreement to produce smart fabric for medical use, particularly in face masks.
The materials firm was trading 61% higher at 3.30 pence each in London on Wednesday morning.
Carmarthenshire, Wales-based Haydale said it has agreed a deal with Thailand's IRPC Public Co Ltd to develop "conducting-based printing smart fabric" with a view for "medical use".
"Due to the Covid-19 pandemic, Haydale has been developing a functionalised graphene coated fabric," the company explained.
"Following tests, an agreement has now been signed with IRPC to develop the functionalised graphene coated fabric for medical use and related applications. These include the development of a new washable functionalised graphene-enhanced fabric mask."
The global PPE industry, which has particularly come into focus due to the Covid-19 pandemic, is worth between USD17 billion and USD19 billion, Haydale noted.
Haydale has also landed a separate deal with IRPC, but in the field of screen printing inks.
"The agreement is for IRPC to develop transparent graphene and functionalized acetylene black conductive inks for radio-frequency identification, near-field communication and related applications," Haydale noted.
RFID technology is often used to tag goods in warehouses and for access control to buildings. NFC technology is often used for ticketing at places like train stations.
The RFID printer market, Haydale said, is expected to reach USD4.82 billion by the end of 2023.
The company added: "Under the Agreement IRPC will pay an upfront fee to Haydale following signing of contract, with a second payment following submission of the final report."
By Eric Cunha; ericcunha@alliancenews.com
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