TIDMHAYD
RNS Number : 2355Q
Haydale Graphene Industries PLC
28 November 2016
28 November 2016
Haydale Graphene Industries plc
("Haydale" or the "Group")
Joint Development Agreement with Huntsman Advanced Materials
Haydale Graphene Industries plc (AIM: HAYD), the Group focused
on the application and sale of enabling technology for graphene
enhanced materials and products is pleased to announce that Haydale
Composite Solutions Ltd ("HCS"), a wholly owned subsidiary of
Haydale, has formally agreed a joint development agreement with
Huntsman Advanced Materials. This agreement has resulted from the
preliminary but highly successful work, jointly undertaken with
Huntsman, to develop a range of graphene enhanced resins to
complement its current product range.
The agreement provides Huntsman with the exclusive worldwide
rights to market, distribute and sell a range of its resins
enhanced with Haydale functionalised graphene. This will include
ARALDITE(R) epoxy resins. The agreement will allow Huntsman to
purchase Haydale's graphene enhanced masterbatches for use in the
fields of composites and adhesives. Huntsman has also agreed to
work exclusively with HCS to further develop graphene enhanced
masterbatches with specific targeted performance
characteristics
Over the past 12 months, HCS and Huntsman have been jointly
working on the development of graphene enhanced masterbatches and
resin formulations with significant performance enhancements in
terms of improved fracture toughness and thermal conductivity.
After further development work to optimise both product performance
and manufacturing processes, Huntsman's resins enhanced with
Haydale's graphene technology will be evaluated by targeted
customers looking to benefit from the fracture toughness or thermal
conductivity property improvements. Assuming successful customer
trials, there will be visibility of significant revenue potential
as Huntsman's customers realise the value of these graphene
enhanced materials.
Ray Gibbs, Haydale CEO stated:
"We took the decision last year to invest internal funds in the
development of targeted specific performance uplifts in epoxy
resins for Huntsman. Not only have we produced exciting results
with Huntsman's resins but the mixing, formulation and processing
know how we have gained is very significant in ensuring consistent
quality, differentiating us from competitors and will enable us to
accelerate the development of new applications and hence commercial
revenues. These are exciting times for the Group as we start to
commercialise all the development work carried out over the past
year or so."
Commenting on the agreement, Gerry Boyce Managing Director of
HCS said:
"We have made great progress over the past 12 months in the
development of graphene enhanced epoxy masterbatches which can be
diluted into formulated resins with major increases in fracture
toughness, electrical conductivity and thermal conductivity. The
ability to radically change the base properties of resins and
adhesives is pivotal and will offer designers the ability to be
creative and develop cost effective, high performance composite
structures across a broad range of industries, including industrial
and automotive composites, sports goods and at a later stage,
aerospace. We look forward to building on our strong working
relationship with Huntsman initially in completing the development
program, and moving into the commercialisation of these next
generation materials.
Dr. David Hatrick, Huntsman Advanced Materials, Vice President
Innovation, commented:
"Graphene enhancement of epoxy resins has been demonstrated in
research programs for a number of years, but as yet has not made
the jump into higher volume industrial applications in any major
way. Our work with Haydale has shown that significant performance
improvements can be achieved whilst maintaining processibility of
the resins, overcoming a key challenge. We have signed a formal
joint development agreement with Haydale and will continue to
dedicate resources to complete the optimisation of resin
performance for composites and adhesives applications. We look
forward to achieving a key milestone in the commercialisation
process within the next 6-12 months during which time we will begin
sampling materials to our customers in these important industrial
markets."
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
- 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 +44 (0) 20 7213
(Nomad) 0880
Tony Rawlinson
Emma Earl
+44 (0) 20 7894
Cantor Fitzgerald Europe (Broker) 7000
David Foreman (Corporate Finance)
Will Goode (Corporate Finance)
David Banks (Sales)
Hermes Financial PR
+44 (0) 7889 153
628
Trevor Phillips +44 (0) 7979 604
Chris Steele 687
About Haydale
Haydale has developed a patented 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 patented low-pressure
plasma process that treats both mined, organic fine powder and
other synthetically produced nanomaterial powders, producing
high-quality few layered graphenes and graphene nanoplatelets. The
process can functionalise with a range of chemical groups, with the
level of functionalisation tailored to the customer's needs. Good
dispersion improves the properties and performance of the host
material and ensures the final product performs as specified.
The Haydale plasma process does not use wet chemistry, nor does
it damage the material being processed; rather, it can clean up any
impurities inherent in the raw material. The technology is a low
energy user and most importantly environmentally friendly. The
Haydale process is a patented enabling technology, allowing the
Group to work with a raw material producer who seeks to add value
to the base product and tailor the outputs to meet the target
applications of the end user.
Haydale, based in South Wales and housed in a purpose-built
facility for processing and handling nanomaterials, is facilitating
the application of graphenes and other nanomaterials in fields such
as inks, sensors, energy storage, composites, paints and
coatings.
www.haydale.com Twitter: @haydalegraphene
About Haydale Composite Solutions (HCS)
Haydale Composite Solutions Ltd ("HCS") is based in Loughborough
UK and is a wholly owned subsidiary of Haydale Graphene Industries
plc ("HGI"). HCS (previously known as EPL Composite Solutions Ltd
was acquired by HGI in November 2014) has developed a reputation
for delivering innovative solutions in the commercial applications
of advanced polymer composite materials working with global
companies over more than 20 years. HCS are tasked with developing
new markets and applications for graphene enhanced nanocomposite
materials across a broad range of industries.
About Huntsman
Huntsman Corporation is a publicly traded global manufacturer
and marketer of differentiated chemicals
with 2015 revenues of more than $10 billion. Our chemical
products number in the thousands and are
sold worldwide to manufacturers serving a broad and diverse
range of consumer and industrial end
markets. We operate more than 100 manufacturing and R&D
facilities in approximately 30 countries and
employ approximately 15,000 associates within our 5 distinct
business divisions. The company's unique
portfolio includes a broad range of epoxy resins and formulated
systems which appeal to companies
working in challenging markets who want to be at the forefront
of innovation and product development. For
more information about Huntsman Advanced Materials please refer
to the Corporate WEB site
http://www.huntsman.com/advanced_materials/a/Home
This information is provided by RNS
The company news service from the London Stock Exchange
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