3 Feb 2021 07:00
Applied Graphene Materials plc
("Applied Graphene Materials", "AGM", "the Group" or "the Company")
AGM customer Infinity Wax launches second graphene-enhanced product
Leading innovator in the European car care market launches high-performance graphene car wax
Applied Graphene Materials (LSE:AGM) is pleased to announce that its customer, Infinity Wax, a major manufacturer of car care products in Europe, has launched a second car care product enhanced with the Company's graphene technology. Using AGM's industry leading Genable® graphene nanoplatelet dispersions, Infinity Wax has launched Graphene Wax, a new generation of high performance car wax.
Infinity Wax launched the new Graphene Wax on 28 January 2021, following the success its ground-breaking QDX Graphene Detailing Spray launched during Q4 2020. The new product offers outstanding water beading and sheeting properties as a result of increased hydrophobicity, resulting in long term paint protection. Graphene Wax makes it easy to wipe away dirt, enabling car owners to achieve a professional wax shine.
The new wax product is the result of an extensive evaluation and testing programme between Infinity Wax and AGM. Infinity Wax expects to see significant customer interest in the new product, as was seen in the launch of its QDX Detailing Spray in 2020, where initial stocks sold faster than anticipated and attracted interest from a number of specialist journals and forums for car groups. The Graphene Wax product is available to car owners directly from www.infinitywax.com and at a growing network of car detailing shops across the UK and Europe.
Adrian Potts, Chief Executive Officer of AGM, said:
"We are proud to have been able to work with the Infinity Wax team on the development of a further performance-enhancing product for the car care sector which incorporates our graphene dispersion technology. We are delighted to see a second graphene product launch for our customer and we look forward to seeing this product's success in the market, and how this translates into revenue growth for both AGM and Infinity Wax. This product once again demonstrates the effectiveness of AGM's approach to close collaboration with our customers, which has delivered an optimum outcome with the deployment of our graphene dispersions."
Mike Cipriani, Founder of Infinity Wax, commented:
"The launch of our second graphene fortified car care product in less than 12 months has been a significant milestone for Infinity Wax. AGM has been instrumental to our R&D process through technical support and a reliable supply of raw material.
The use of Genable® dispersions in our latest product, an automotive paste wax, has allowed us to push the performance of our synthetic wax technology beyond what has previously been possible while also allowing the product to be beginner friendly with effortless ease of use, something rarely seen in these types of highly durable waxes.
The success of our first product, QDX Graphene, a water-based quick detail spray, has set a precedent and given a great deal of confidence to our customers using these products, but also for our new and existing distribution partners, who have also benefited from the product's success. This is echoed by the launch of our new wax product, where 77% of the manufactured stock sold within 24 hours."
For further information, please contact:
Applied Graphene Materials +44 (0) 1642 438 214
Adrian Potts, Chief Executive Officer
David Blain, Chief Financial Officer
N+1 Singer +44 (0) 207 496 3000
Peter Steel / Amanda Gray
Hudson Sandler +44 (0) 207 796 4133
Charlie Jack / Emily Dillon
Notes to Editors
Infinity Wax - First born as a concept in 2013, it was a project initially thought up by Michael Cipriani, the company founder, who wanted to bring a new household name in detailing to market, all made in house to control performance and quality with an ambition to compete with the big players in the market. Since then, Mike and the growing team at Infinity Wax have developed an industry leading position in supplying both own label and private label products across the car care markets covering most of Europe and have partnerships with over 90 companies. https://www.infinitywax.com/
Applied Graphene Materials - For the last decade, AGM has been at the forefront of harnessing the possibilities of graphene. Founded originally by Professor Karl Coleman, the Group has grown from an academic idea from Durham University to a world leader in the development and application of graphene nanoplatelet dispersions for customers in the coatings, composites and functional materials sectors.
The Group utilises its proprietary bottom-up manufacturing process to produce high purity graphene nanoplatelets. Their expertise in dispersion chemistry enables AGM to create optimised, stable and easy to handle dispersions that customers use in real-world industrial products. AGM's unique approach enables industries to fully realise the potential of graphene in a simple, safe and easy to formulate way.
AGM, based at the Wilton Centre on Teesside, was admitted to AIM in November 2013, raising £11 million. The Group successfully raised £8.5m in January 2016 and a further £9.8m in November 2017. Since August 2020, the Group's shares are also listed on OTCQB in the United States and, in January 2021, the Group announced plans to raise £6m, subject to shareholder approval. As a result of the funding support and their industry leading technology platform, AGM has been able to develop a significant sales distribution network covering Europe, North America and a partner in Japan. The Group continues to work closely with industrial partners, and have seen the successful launch of numerous commercial products enhanced by its Graphene Dispersions.
https://www.appliedgraphenematerials.com/