Last checked at 9 Aug 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.
For immediate release | 9 August 2017 |
Haydale Graphene Industries plc
('Haydale' or the 'Group')
Launch of Taiwan operations
Haydale (AIM:HAYD), the global advanced materials group, is pleased to announce the launch of its Taiwan operations, Haydale Technologies (Taiwan) Co., Ltd., ('HTW'), which will operate as a dedicated producer and sales outlet of graphene-based conductive inks and pastes, including other functional and specialty inks and pastes.
Located in Kaohsiung, Southern Taiwan, HTW has largely completed the set-up of its own dedicated ink production facility to meet its anticipated demand. Haydale has been working in Taiwan for more than 18 months, having determined in late 2015 that the region's focus on functional inks and pastes could provide an important route to market for Haydale's tailored graphene-based materials. The work involved market assessments, in-country technical capability, ability to gain regulatory approvals and gaining a deep understanding of the targeted print customers' needs.
Haydale's proprietary graphene-based pastes have been developed in the Far East focussed on the Self-Monitoring Blood Glucose ('SMBG') device market. To date Haydale's inks have been incorporated into test products with several Taiwan-based printing customers who have been progressing regulatory approval for sales of their diagnostic products incorporating Haydale inks into the US and EU markets. Although Haydale has no current visibility on order quantities, the Group anticipates that sales of its tailored graphene-based paste to these customers will commence during the 2017 calendar year.
Traditionally, highly conductive inks and pastes have been dominated by metal-based inks incorporating silver and copper. Whilst graphene is not expected to completely replace the conductive properties of silver-based inks, provided it meets acceptable printer specifications, graphene offers many advantages such as recyclability, lower unit costs and the fact that the material is not susceptible to volatile market price movements.
A key reason for Haydale targeting the SMBG sector opportunity is that, according to market research firm Research & Markets, the SMBG device market is expected to grow to over US$16 billion by 2020 as the incidence of diabetes is increasing dramatically, with more than 640 million sufferers estimated worldwide by 20401.
Commenting on the opening of HTW, Ray Gibbs, CEO of Haydale, said:
"The development of our graphene-based inks has been focused on the screen printing market for over three years, which started with Haydale being awarded an Innovate UK grant for the production of ink for the self-monitoring blood glucose device market. Three years later we have expectations on securing sales this calendar year and the necessary FDA and regulatory approvals through dedicated printers such that we were confident to open a operation facility in Taiwan to service our collaboration partners' needs. The biomedical sensor market is massive and we consider that the Far East has a significant portion of this growing sector. I look forward to making more announcements on progress in ink sales over the coming months."
1. (Source:https://www.researchandmarkets.com/research/vhwlsj/blood_glucose).
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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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Cantor Fitzgerald Europe (Broker) |
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David Foreman / Will Goode (Corporate Finance) | Tel: +44 (0) 20 7894 7000 |
Mark Westcott / Alex Pollen (Sales) |
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Media enquiries:
Buchanan |
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Henry Harrison-Topham / Jamie Hooper | Tel: +44 (0) 20 7466 5000 |
haydale@buchanan.uk.com | www.buchanan.uk.com |
Notes to Editors
Haydale is a global technologies and advanced 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, Japan, Australia and China and operates from six facilities in the UK, USA and the Far East.
For more information please visit: www.haydale.com
Twitter: @haydalegraphene