Business
Strong Commercial Progress
Strong Commercial Progress.
About this update from Haydale Plc
[{"type":"text","content":"\n \nRNS Number : 7811R Haydale Graphene Industries PLC 19 June 2018 \n\n \n\n\n\nFor immediate release\n\n\n19 June 2018\n\n\n\n\n\n\n\n\n\n\n\n \n \nHaydale Graphene Industries plc\n \n('Haydale' or the 'Group')\n \nStrong commercial progress in graphene-enhanced composites\n \nHaydale, (AIM: HAYD), the global advanced materials group, is pleased to announce that strong commercial progress has been made with a global composite materials group (the \"Customer\") to enhance mechanical properties for selected products in their range of materials, through a commercially funded contract.\n \nOver the last 12 months, Haydale has completed a series of pre-production trials for the Customer, who for commercial reasons cannot be named, to enhance these selected products' mechanical performance through the incorporation of graphene in a range of world-wide industrial applications. Haydale understands that the market sector for the Customers' products is significant within the global US$100bn composite market. To date, Haydale has been paid approximately US$150,000 by the Customer for these trials, which is included in the Group's current year revenue expectations. \n \nTrial quantity masterbatches were produced using Haydale's extensive knowledge of the most suitable commercially available graphene in consistent, repeatable quality. The graphene was sourced from an overseas supplier and, using Haydale's considerable in-house dispersion and mixing expertise, the required trial quantity masterbatch was produced. Crucially the trial quantities were specifically designed to be incorporated seamlessly into the Customer's production process. \n \nRay Gibbs, Chief Executive Officer of Haydale, commented: \"This contract, fully funded by the Customer, is a perfect example of the work Haydale is doing across a range of composite product applications. We have experienced relatively long lead times with some of our past projects, but this one has been fast-tracked in response to the Customer's desire to launch as soon as possible.\" \n \nKeith Broadbent, Managing Director of Haydale's Resins, Polymers and Composites strategic business unit, said: \"In a relatively short timeframe, Haydale has made excellent progress in delivering on the Customer's needs. I...