Haydale Graphene Industries PLC Memorandum of Understanding with Viritech
06 September 2021 - 8:00AM
RNS Non-Regulatory
TIDMHAYD
Haydale Graphene Industries PLC
06 September 2021
.
RNS Reach
6 September 2021
For immediate release
Haydale Graphene Industries plc
('Haydale', the 'Company', or the 'Group')
Memorandum of Understanding with Viritech
Haydale (AIM: HAYD), the global advanced materials group , is
pleased to announce that the Company has signed a Memorandum of
Understanding with Viritech Limited ("Viritech"). Viritech is
developing technologies to deliver advanced hydrogen powertrain
solutions for the automotive, aerospace, marine and distributed
power industries and Haydale will provide Viritech with consulting
engineering support services, including pressure vessel design,
structural analysis, and material science analysis.
Viritech are world leaders in the development of integrated
hydrogen powertrains and, through its technical partnership with
Horiba MIRA, has access to 40 major engineering facilities and over
600 engineers onsite in Nuneaton as well as MIRA's engineering
network across the Midlands. Viritech's focus is on areas where
hydrogen fuel cells offer immediate benefits - where the
effectiveness of batteries is compromised by mass-compounding or
power, range and duration requirements increase, or long-term
energy storage is required.
Haydale is utilising its expertise in engineering solutions for
hydrogen storage in tandem with its experience in nano material
science to work with Viritech on the testing and development of
Type IV structural composite pressure vessels for hydrogen storage.
The initial project will commence in September 2021 and is
scheduled to last for six months. Subject to positive results,
Haydale anticipates follow on development work both in respect of
Type IV tanks but also further research into next generation Type V
linerless pressure vessels.
The first application is expected to be in the Apricale(TM)
Hypercar but future applications are expected to extend to HGV and
light aircraft prototypes. After certification of the Type IV
design, Viritech expects to enter into licencing arrangements with
existing suppliers of composite pressure vessels to OEMs and Tier 1
manufacturing customers and it is anticipated that, with subsequent
designs, customers will require Haydale to supply functionalised
nanomaterials as part of any licence agreed.
Timothy Lyons, Viritech CEO and Founder, said : "We are
delighted to be working with Haydale's exceptional engineering team
to help us develop structural composite pressure vessels for
hydrogen storage. Viritech believes that the world's transition to
Green Hydrogen will be vital to the long-term sustainability of the
planet and the ability to store hydrogen safely and effectively
will be key to facilitating this transition."
Keith Broadbent, Haydale CEO, said : "We are excited to be
working with Viritech on the first of what we expect to be a number
of projects that will help unlock the pathway to hydrogen
propulsion. Our role with Viritech brings together our expertise in
functionalised nano materials and experience in lightweight,
low-permeability hydrogen storage tanks and complements our work
with the Advance Propulsion Centre's Automotive Transformation
Fund."
For further information:
Haydale Graphene Industries plc
Keith Broadbent, CEO Tel: +44 (0) 1269 842 946
www.haydale.com
Arden Partners plc (Nominated Adviser
& Broker)
Ruari McGirr / Paul Shackleton/Oscair Tel: +44 (0) 20 7614 5900
McGrath
Notes to Editors
Haydale is a global technologies group and service provider that
facilitates the integration of graphene and other nanomaterials
into the next generation of industrial materials and commercial
technologies. With expertise in graphene, other nanomaterials and
Silicon Carbide, Haydale is able to deliver improvements in
electrical, thermal and mechanical properties. Haydale has been
granted patents for its technologies in Europe, USA, Australia,
Japan and China and operates from five sites in the UK, USA and the
Far East. For more information please visit: www.haydale.com or
Twitter: @haydalegraphene
Viritech cleantech engineers are leading the development of
Hydrogen powertrain solutions for the Automotive, Aerospace, Marine
and Distributed Power industries. For more information please
visit: www.viritech.co.uk
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