Commercial Progress in the United States

RNS Number : 8007R

Haydale Graphene Industries PLC

01 July 2015

 

Haydale Graphene Industries plc

("Haydale" or the "Company")

Commercial Progress in the United States

Haydale (AIM: HAYD), the group focused on the commercialisation of graphene and other nano particle products using their proprietary plasma process is pleased to announce further progress in North America.

1.    Service Agreement with InVentures Group, Inc.

2.    Opening of new office

Service Agreement with Inventures Group, Inc

Haydale Technologies Inc ("Haydale Tech"), the US subsidiary of Haydale, has entered into a rolling one year service agreement with InVentures Group, Inc. ("InVentures"), (the "Service Agreement").  Pursuant to the Service Agreement, being an extension of the previous consulting agreement entered into in July 2014, InVentures will provide Haydale Tech with financial, strategic and management planning advice to develop a centre of excellence and establish Haydale Tech as a leading provider of functionalised graphene and other nanomaterials to the North American market.

In return, Haydale will provide an initial HT60 reactor to the USA to enable the functionalisation of graphene and other nano materials on site. This reactor will provide sampling and low volume functionalised nano materials to the US market. 

In consideration for the services to be provided by InVentures to Haydale Tech, Haydale will issue 100 new ordinary shares in Haydale Tech, representing approximately 11.1% of Haydale Tech's enlarged issued share capital, to Inventures. Furthermore, InVentures has been granted an option to subscribe for up to 100 additional shares in Haydale Tech (the "Option"). The exercise of the Option is conditional upon InVentures reaching certain key business milestones in the twelve months to June 2016 including sales targets and providing agreed dedicated services to Haydale Tech. If the conditions are achieved and the Option exercised, Inventures would then own 20% of the resultant enlarged issued share capital of Haydale Tech.

Opening of New Office

The location of the new office and R&D facility, which we expect to open this month, is under evaluation and likely to be in New York State where there are economic incentives available, a supply of appropriate labour skills plus target customers in the composites, inks and energy harvesting markets.

Commenting, Ray Gibbs, Haydale Chief Executive said:

"In our interim results statement we announced our intention to establish a centre of excellence in the United States and this is the next step in that process. We have been working with InVentures for almost a year now and having carefully researched the market I am confident that the opening of our US operation and our agreement with InVentures will see Haydale gain traction in North America.

Keith Blakely, Chairman and CEO of InVentures, added:

"Having been in the nano materials market for 35 years, graphene is one of the most disruptive materials of our generation and I am excited to be able to bring Haydale's novel and patented functionalisation process to the North American market. Its potential impact on a wide range of products, such as plastics, polymers, metals and even golf balls is astounding. Work to develop graphene-enhanced products in water treatment and smart cement, both very sizable markets, is already underway and we are excited about the possibilities."

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For further information, please contact:

Haydale Graphene Industries plc	[phone]
John Knowles, Chairman Ray Gibbs, Chief Executive Officer
Cairn Financial Advisers LLP (Nomad)	[phone]
Tony Rawlinson Emma Earl
Cantor Fitzgerald Europe (Broker)	[phone]
David Foreman, Will Goode (Corporate Finance) David Banks, Tessa Sillars (Corporate Broking)
Hermes Financial PR
Trevor Phillips Chris Steele	[phone] [phone]

About Haydale (www.haydale.com)

Haydale has developed a patent pending proprietary scalable plasma process to functionalise graphene and other nanomaterials. This enabling technology can provide Haydale with a rapid and highly cost efficient method of supplying tailored solutions to enhance applications for both raw material suppliers and product manufacturers.

Functionalisation is carried out through a low pressure plasma process that treats both organic mined fine powder and other synthetically produced nanomaterial powders producing high quality few layered graphenes and graphene nano platelets. The process can functionalise with a range of chemical groups, where the amount of chemicals can be tailored to the customer needs. Good dispersion improves the properties and performance of the host material and ensures it delivers as specified.

The Haydale plasma process does not use wet chemistry, neither does it damage the material being processed, rather it can clean up impurities inherent in the raw material. The technology is a low energy user and most importantly environmentally friendly.  The Haydale method is an enabling technology where working with a raw material producer can add value to the base product and tailor the outputs to meet the target applications of the end user.

Haydale, based in South Wales, housed in a purpose built facility for processing and handling nanomaterials with a laboratory facility,  is facilitating the application of graphenes and other nanomaterials in fields such as inks, sensors, energy storage, photovoltaics, composites, paints and coatings.

About The InVentures Group (www.theinventuresgroup.com)

The InVentures Group delivers strategic forward thinking and mentoring to start-up and established companies.  They specialise in high technology companies, products and services with an emphasis on assisting in the complex and highly challenging task of bringing new product ideas and technology to market.  InVentures are specialists in bringing new technologies to the North American market and instrumental in the formation of the Graphene Stakeholders Association (GSA) in 2012,

 

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