Imagine Intelligent Materials, the Australian developer of graphene-based coatings for industrial textiles and fibres, has entered into a Heads of Agreement (HOA) with Pacific American Coal, according to which PAK will take a controlling interest in Imagine IM.
PAK will set out to raise $1.58 million from investors; Following completion of the Initial Acquisition, PAK will acquire shares in Imagine IM from Imagine’s existing shareholders. Final completion of the HOA deal must occur on or before 30 June 2016.
Imagine IM also intends to build Australia’s first commercial graphene manufacturing plant in the foreseeable future with a focus on geosynthetics. The pilot plant will have an output capacity of up to 10 tonnes per year of graphene. Imagine IM plans to use two tonnes of the graphene output in the first year of operation for products aimed at customers in Australian manufacturing.