APPLIED Graphene Materials (AGM), based in Redcar, has been making good progress developing speciality graphene materials for the region and the rest of the world.
The business develops graphene coatings and composites and launched a primer in Halfords stores last year.
Adrian Potts, chief executive officer, said: “I am pleased that AGM has continued to make good progress in converting customer engagement into product launches, with several applications launched in the period that are now available to retail as well as specialist industrial customers. Our progress continues to be underpinned by AGM’s industry-leading know-how in graphene dispersion and application.
“We are building an ever increasing bank of supporting data that will help us accelerate customer application and testing, while the standardisation of a number of our graphene products will also make our material more acceptable to a broader customer base. Our focus remains on helping our customers realise the significant commercial potential the incorporation of graphene can offer them.
“We are confident that our pipeline of engagements is moving progressively towards further product launches and growing revenues in the near-term, with these successes expected to come primarily from our focus area of paints and coatings.
"Our year to date sales already exceed last year’s total sales by 20 per cent, and the business is in a strong position to support further progress, with net cash of £4.3m at January 31, and ongoing cash operating costs reduced by 23 per cent as a result of our realignment in October.
“We are closely monitoring the covid-19 pandemic and we have taken the appropriate precautions to keep our employees safe. We intend to operate and support our client engagements as much as we can, whilst following governmental guidelines.”
AGM 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.
Its strategy is to target commercial applications in three core markets: coatings, composites and functional materials.
It 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 so does not rely on the supply of graphite, unlike a number of other graphene production techniques.
AGM owns the intellectual property and know-how behind this process.
The company 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 (stock exchange) in November 2013, raising £11 million, and is based at the Wilton Site on Teesside.
Mr Potts added: “It’s great to be a part of the North-East, we had a really nice visit with Mayor Ben Houchen a couple of weeks ago - which we had the opportunity to show him what we do is outstanding.”
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