Applied Graphene Materials reported their financial results for H1 2016 (which ends on 31 January 2016). Revenues were £18,000 (up from £13,000 in the first half of 2015) and net loss (EBITDA) was £2.1 million. AGM has £10.2 million in cash or equivalents (AGM recently raised £8.5 million in a shares sale).
AGM's revenues were all from the supply of evaluation graphene materials to commercial partners. The company says they shipped over 70 evaluation samples to customers - and is working closely with over 20 companies via collaborations and joint-development agreements.
In August 2015, the company joined a collaborative Innovate UK project called Project Graphted that aims at evaluating Graphene’s potential as a transparent electrode when dispersed in a polymeric matrix. In January 2016 AGM initiated a collaborating with US paint company Sherwin-Williams Protective and Marine Coatings to develop graphene-based anti-corrosion paints.
