17 Dec 2019 07:00
17 December 2019
Applied Graphene Materials plc
("Applied Graphene Materials", "the Group" or "the Company")
Annual General Meeting Statement
Applied Graphene Materials, the producer of specialty graphene materials, will be holding its Annual General Meeting at 11.00am today at The Farndale Suite, The Wilton Centre, Redcar, Cleveland, TS10 4RF, during which the Chairman, Bryan Dobson, will make the following statement:
"We continue to work closely with the companies in our sales pipeline in order to secure new product launches. We are pleased that James Briggs, Halfords, Alltimes and Blocksil have all launched new products containing our materials during the first four months of the current financial year and we look forward to seeing these products develop in the future.
The re-alignment process which commenced in October 2019 is now complete and the anticipated cost reductions have been achieved. This was a very difficult period for all staff and we appreciate their support and understanding throughout the process.
We presented at IP Group's Deep Tech Conference in Beijing, China during October 2019 and, as a result, the Group is actively pursuing an increased number of exciting opportunities in Asia.
Our intent remains to become a global graphene market leader and the Board believes that Applied Graphene Materials remains well placed to meet its ambitions."
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
Richard Lindley / Justin McKeegan / Mia Gardner
Hudson Sandler +44 (0) 207 796 4133
Charlie Jack / Emily Dillon
Notes to Editors
Applied Graphene Materials works in partnership with its customers using its knowledge and expertise to provide bespoke graphene dispersions and formats to deliver enhancements and benefits for a wide range of applications. The Group's strategy is to target commercial applications in three core markets: coatings, composites and functional materials.
The Group has developed proprietary bottom-up processes which are capable of producing high purity graphene nanoplatelets using a continuous process. The manufacturing process is based on sustainable, readily available raw materials and therefore does not rely on the supply of graphite, unlike a number of other graphene production techniques. Applied Graphene Materials owns the intellectual property and know-how behind this process.
Applied Graphene Materials was founded by Professor Karl Coleman in 2010 with its operations and processes based on technology that he initially developed at Durham University. The Group was admitted to AIM in November 2013, raising £11 million, and is based at the Wilton Site on Teesside. In January 2016 the Group raised £8.5m to support its ongoing activities and in October 2017 the Group raised a further £9.8m.