23 Oct 2015 07:00
23 October 2015
Applied Graphene Materials plc
("Applied Graphene Materials", "the Group" or "the Company")
Joint Development Agreements and Collaborations
Applied Graphene Materials plc, the producer of specialty graphene materials, is pleased to announce that the Group has entered into a Joint Development Agreement with Puralube Germany GmbH (shortly to be known as "Puraglobe"), a German based lubricants and oils business that has developed technologies to refine used lubricants and oils. Puraglobe's products are sold to a global customer base for use in applications such as motor oils, hydraulic oils, automatic transmission fluids, process oils, metal working fluids and industrial oils.
Under the Joint Development Agreement, Applied Graphene Materials will develop and format dispersions of its graphene nanoplatelets for inclusion in Puraglobe's sustainable base oil products and speciality technologies. It is anticipated that as result of the collaboration, Puraglobe's graphene loaded base oils will be used across a wide range of industrial and automotive applications, where the unique friction and wear properties of graphene will add significant performance gains as lubricants and machining fluids.
Applied Graphene Materials and Puraglobe are in discussions with several companies seeking to improve the performance of a range of machinery whilst also looking to deliver reduced environmental impact and lower CO2 output through the use of Puraglobe's sustainable products. The Joint Development Agreement with Puraglobe is the second direct Joint Development Agreement where the Group has been permitted to name its commercial counterparty, following on from the announcement in September, of the Group's collaboration with Millers Oils.
As previously reported, the pace and momentum of commercial progress has continued to accelerate. Applied Graphene Materials is engaged with a large number of customers, many of them leaders in their market, where the exact nature of activities remains confidential due to commercial sensitivity. This includes a recent Joint Development Agreement with a European speciality polymers and composites business with niche development activity across the aerospace, automotive and leisure industries. The Group's collaboration partner wishes to preserve confidentiality at this stage, however the agreement is particularly focused on finding early adoption opportunities for graphene nanoplatelets where the material's multi-functionality offers clear benefits. Typical of the properties the collaboration will look to exploit are mechanical toughening, thermal and electrical conductivity as well as enhanced fire resistance.
Final results
Applied Graphene Materials' full year results for the year ended 31 July 2015 are now expected to be announced on Monday 16 November 2015. This represents a change from the previously announced results date.
Ends
For further information, please contact:
Applied Graphene Materials +44 (0) 1642 438 214
Jon Mabbitt, Chief Executive Officer
Oliver Lightowlers, Chief Financial Officer
N+1 Singer +44 (0) 207 496 3000
Shaun Dobson / Richard Lindley / Nick Owen
Hudson Sandler +44 (0) 207 796 4133
Charlie Jack / Emily Dillon
Notes to Editors
Applied Graphene Materials
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.
The Group has developed a proprietary bottom-up process which is 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 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.
Puralube (shortly to be known as Puraglobe)
Puraglobe has developed refining technologies for used lubricants and oils through utilising its exclusive UOP Hylube™ technology. Puraglobe's products are then used by a global customer base in applications such as motor oils, hydraulic oils, automatic transmission fluids, process oils, metal working fluids and industrial oils.
Puraglobe owns the world's most advanced and modern refinery for base oil specialties derived from used oil and has successfully produced over one million tonnes of non-virgin feed stock into Group 2+ and 3- base oil products.
Puraglobe focuses on sustainable high quality base oil specialties and the exclusive UOP Hylube™ technology has already avoided millions of tons of CO2 from entering into the atmosphere. Puraglobe aims to address climate change as a combined industrial approach to extend the lifespan of natural oil resources in the future.