Last checked at 26 Sep 2017 07:00
The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
| 26 September 2017 |
Haydale Graphene Industries plc
("Haydale" or the "Group")
Everpower places initial orders for Chinese market
Haydale (AIM: HAYD), the global advanced materials group, is pleased to announce the first commercial sales of its products to Everpower Sheng Tie (Xiamen) Graphene Technology Co., Ltd. ("Everpower"). The sales are for a range of Haydale's Silicon Carbide Fibres ("SiC") and 3D PLA masterbatch mixed with Haydale's functionalised Graphene Nano Platelets ("Additive Manufacturing PLA" or "AM PLA") for immediate delivery. Haydale believes that these sales to Everpower are strategically important as they mark Haydale's first commercial sales into China and launches the Group and its products into what is expected to be a significant marketplace for Haydale.
This SiC sale to Everpower is at commercial rates and is worth US$150,000 to the Group. This sale follows extensive customer testing of sample quantities of SiC supplied to Everpower in May 2017. Haydale's SiC products are primarily focused on industries that require improvement in product toughness, wear, scratch resistance, and overall strength. Haydale understands that Everpower is initially targeting repair and corrosion protection for pipes in the oil and gas industry.
The sale for Haydale's proprietary Additive Manufacturing PLA is for £50,000 of product and is the Group's first commercial AM PLA product sale into China. The innovative graphene enhanced AM PLA developed by Haydale, with its key attributes such as toughness and excellent layer bonding, has extensive applications from prototyping to end use products. This order from Everpower has been received in the week when Haydale is launching its expanded suite of additive manufacturing products at the TCT show in Birmingham between the 26-28 September 2017.
Ray Gibbs, CEO of Haydale, commented: "Haydale is about creating material change. We said in our July trading update that we were in discussions with Everpower on the supply of some of our products and this has now happened. The supply of SiC offers Everpower a unique material that can be used in a range of applications such as cutting tools, oil and gas pipe repairs and scratch resistant coatings for cookware. We are particularly pleased that this sale of SiC follows other recently announced new long-term SiC contract wins and demonstrates the benefits of our investments in sales and marketing.
With this first AM PLA order from Everpower and with our enhanced range of additive manufacturing products being launched today, we anticipate an ongoing and closer collaboration with Everpower to meet the growing demand for new product enhancing advanced materials in the Chinese market. We look forward to updating the market further when we issue our annual results for the year ended 30 June 2017 in October 2017."
Dr Nan Lin, Chairman of Everpower, commented: "Our investment in Haydale was designed to take its products into the vast Chinese market of which we have strong knowledge and commercial connections. These orders are for initial testing and represent the start of our sales effort with other Haydale products likely to follow closely behind. In addition, we have identified and evaluated a number of Haydale technical composite-based projects to provide targeted products for use in the automotive and wind energy sectors. Discussions are proceeding aimed at industrialising them in China."
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For further information:
Haydale Graphene Industries plc |
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Ray Gibbs, Chief Executive Officer | Tel: +44 (0) 1269 842 946 |
Matt Wood, Finance Director | www.haydale.com |
Trevor Phillips, Head of Communications |
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Cairn Financial Advisers LLP (Nominated Adviser) |
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Tony Rawlinson / Emma Earl | Tel: +44 (0) 20 7213 0880 |
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Arden Partners plc (Broker) |
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Ruari McGirr / Ben Cryer | Tel: +44 (0) 20 7614 5900 |
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Media enquiries:
Buchanan |
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Henry Harrison-Topham / Jamie Hooper / Gemma Mostyn-Owen | Tel: +44 (0) 20 7466 5000 |
haydale@buchanan.uk.com | www.buchanan.uk.com |
Notes to Editors
Haydale is a global technologies and materials group that facilitates the integration of nanomaterials into the next generation of commercial technologies and industrial materials. With expertise in graphene, silicon carbide and other nanomaterials, Haydale is able to deliver improvements in electrical, thermal and mechanical properties, as well as toughness. Haydale has granted patents for its technologies in Europe, USA and China and operates from four facilities in the UK, USA and the Far East.
For more information please visit:
www.haydale.com
Twitter: @haydalegraphene
About Everpower:
Everpower International Holdings is a New York-based investment company, focused on investing in leading edge technologies in North America and Europe and seeking to integrate these technologies into China, where there is huge market and demands for such high-tech products.
Everpower also has existing graphene interests, particularly following entering an agreement in April 2016 with US based Angstron Materials Inc. (AMI) to realise industrial production of single-layer graphene and develop applications of graphene-based technologies.
http://everpowerholdings.com/