TIDMHAYD
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."
- Ends -
For further information, please contact:
Haydale Graphene Industries +44 (0) 1269 842
plc 946
John Knowles, Chairman
Ray Gibbs, Chief Executive
Officer
Cairn Financial Advisers LLP
(Nomad) +44 (0) 20 7148 7900
Tony Rawlinson
Emma Earl
Cantor Fitzgerald Europe (Broker) +44 (0) 20 7894 7000
David Foreman, Will Goode (Corporate
Finance)
David Banks, Tessa Sillars
(Corporate Broking)
Hermes Financial PR
+44 (0) 7889 153
628
Trevor Phillips +44 (0) 7979 604
Chris Steele 687
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,
This information is provided by RNS
The company news service from the London Stock Exchange
END
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