14 Sep 2022 07:00
Reach - non-regulatory announcement
AGM Signs Supply Agreement With One of the World's Largest Car Care Brands
Global Innovator to use AGM Graphene Dispersions in the Production of its Leading Auto Detailing Products
Applied Graphene Materials (LSE: AGM), the producer of specialty graphene nanoplatelet dispersions, is pleased to announce that it has signed a supply agreement with a global leader in the car detailing industry, for an exclusively developed graphene-based solution.
The partnership with a global household name brand represents a significant milestone for AGM in the car care sector, where the Company has already announced multiple product launches with smaller participants.
With over 80 years' experience producing award-winning products for the international car care sector, AGM's new partner is driving innovation in the market and now leads the way in the supply of high-performance auto detailing and finishing products. The addition of AGM's Genable graphene nanoplatelet dispersion technology into car care systems has the potential to significantly improve the barrier performance of waxes, polishes and finishing sprays for vehicles.
The new supply agreement underpins the commitment of both companies to continually push the boundaries of advanced materials technology and is reflective of their collaborative approach to successful innovation.
Adrian Potts, Chief Executive Officer of AGM, said:
"We are delighted to be able to sign this supply agreement and to develop a closer relationship with one of the leading industry players within car care. Innovative manufacturers in this fast-moving market are looking to exploit the differentiation that graphene can offer, so we have seen growing interest in its use for in cleaning and coating products to protect surfaces and improve vehicle aesthetics.
The opportunity to collaborate with a global leader as its supply partner of choice will further strengthen AGM's position in the sector and the partnership reflects our capability to produce high quality, consistent graphene nanoplatelet dispersions at production volumes."
Director - Global Operations from AGM's new partner said:
"We are thrilled to be partnering with AGM and look forward to combining the expertise of both companies to create innovative new products for the car care sector, which are both higher performance and longer lasting. We are committed to working with cutting-edge technology partners like AGM to drive auto detailing innovation."
END
For further information, please contact:
Applied Graphene Materials +44 (0) 1642 438 214
Adrian Potts, Chief Executive Officer
David Blain, Chief Financial Officer
Singer Capital Markets +44 (0) 207 496 3000
Peter Steel / Amanda Gray
Allenby Capital Limited +44 (0) 203 328 5656
Nick Athanas / Liz Kirchner (Corporate Finance)
Matt Butlin / Kelly Gardiner (Sales and Corporate Broking)
Hudson Sandler +44 (0) 207 796 4133
Nick Lyon / Emily Dillon
Notes to Editors
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. Its 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, £9.8m in November 2017 and a further £6m gross in January 2021. The Group's shares are also cross-traded on OTCQX in the United States. As a result of the funding support and its industry leading technology platform, AGM has been able to develop a significant sales distribution network covering Europe, North America and Asia. The Group continues to work closely with industrial partners, and has seen the successful launch of numerous commercial products enhanced by its Graphene Dispersions.
https://www.appliedgraphenematerials.com/
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