Haydale Graphene Industries PLC Contract Updates & Notice of Results (3372A)
September 11 2018 - 1:01AM
UK Regulatory
TIDMHAYD
RNS Number : 3372A
Haydale Graphene Industries PLC
11 September 2018
For immediate release 11 September 2018
Haydale Graphene Industries plc
('Haydale' or the 'Group')
Contract Updates & Notice of Results
Haydale (AIM: HAYD), the global advanced materials group, is
pleased to announce an extension of a supply contract with a global
industrial manufacturer amounting to over US$3.3 million. Haydale
also, provides an update on its trial with Amiblu Technology AS
("Amiblu"), formerly Flowtite Technology.
Supply Contract Extension and Development with Global Industrial
Manufacturer
Haydale Ceramic Technologies LLC ("HCT") has developed and
extended a previously announced four-year agreement to supply
Silicon Carbide ("SiC") micro-fibre to a global group selling
tooling and wear-resistant solutions. Haydale has renegotiated and
extended the term of the agreement. This new sole supply agreement
has a potential sales value of more than US$3.3 million over a now
five-year term, representing an increase of US$1.35 million in the
HCT order book value which now stands at US$5.46 million.
Additionally, HCT has in the first quarter of this fiscal year
received a purchase-order moving from a monthly order to a 3-month
supply of SiC by a global paint and coatings company for its
anti-corrosion product. This contract, worth over US$0.1 million
per quarter represents a 33% uplift on previous monthly purchase
orders received from the customer. Further product testing is being
carried out on a second industrial application, where expected
positive results will lead to a second product launch such that
order values from the customer would be expected to continue to
rise in the near future.
Amiblu Technology Trial
The results of the Amiblu Technology, formerly Flowtite
Technology, trial in March did not show the improvements Haydale
had hoped for. However, despite Amiblu's internal management
changes the Group is continuing discussions with the Amiblu R&D
team with a meeting planned in Quarter Four to discuss next
steps.
Commenting on the supply contract extension, Ray Gibbs,
President, Business Development, at Haydale, commented: "Although
there was a one-month delay in the June product shipment, the
revised contract is testament to a close working relationship with
a customer that has allowed us to renegotiate terms and extend the
sales pipeline. Our focus on building long term business
partnerships with best in class corporations has paid off."
Commenting on the supply contract extension Keith Broadbent, COO
of Haydale, said: "These contract extensions are a result of
Haydale's continued product development and service. We have made
great progress with the SiC product offering which has resulted in
this solidified relationship."
Commenting on the Amiblu results, Keith Broadbent, COO of
Haydale, said: "Whilst the last test results are disappointing we
are still looking to continue to engage with Amiblu and iterate
towards a solution which will greatly improve their product
offering."
Notice of Final Results
Haydale will publish its final results for the year ended 30
June 2018 on Tuesday, 18 September 2018.
- Ends -
For further information:
Haydale Graphene Industries plc
David Banks, Interim Executive Chairman Tel: +44 (0) 1269 842 946
Gemma Smith, Head of Marketing www.haydale.com
Arden Partners plc (Nominated Adviser
& Broker)
Ruari McGirr / Paul Shackleton / Tel: +44 (0) 20 7614 5900
Ben Cryer
Media enquiries:
Buchanan
Henry Harrison-Topham / Jamie Hooper Tel: +44 (0) 20 7466
/ Gemma Mostyn-Owen 5000
haydale@buchanan.uk.com www.buchanan.uk.com
Notes to Editors
Haydale is a global technologies and materials group that
facilitates the integration of graphene and other nanomaterials
into the next generation of commercial technologies and industrial
materials. With expertise in graphene, silicon carbide and other
nanomaterials, Haydale is able to deliver improvements in
electrical, thermal and mechanical properties, as well as
toughness. Haydale has granted patents for its technologies in
Europe, USA, Australia, Japan and China and operates from six sites
in the UK, USA and the Far East.
For more information please visit: www.haydale.com
Twitter: @haydalegraphene
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END
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