First Graphene closes strong quarter, expects commercial success

First Graphene has reported a 94% growth in revenue at the end of the second quarter of the 2022 financial year. The continued growth and momentum puts the company in a strong position to achieve its 2022 targets.

The Company states that is has achieved several milestones over the last quarter. For example, the launch of PureGRAPH, a range of enhanced conductive coatings from nanotechnology developer Protectology, has opened the path to the lucrative European coatings market. The commercial agreement between Protectology will grow a range of PureGRAPH enhanced coatings marketed under the PROGRAPH® brand.

First Graphene is also active in the cement and concrete sector: as cement production is responsible for around 8% of global CO₂ emissions, First Graphene is focusing its work with industry partners to improve and realize major reductions in CO₂ emissions. PureGRAPH enhanced cement additives have been found to reduce cement emissions by 16 and 22%, giving the industry a boost in achieving its 40% reduction target by 2030.

First Graphene was awarded funding from Innovate UK EDGE to progress its work on supercapacitor graphene hybrid materials. The £15,000 funding from Innovate UK will be added alongside AU$100,000 funding from First Graphene’s internal resources to advance the technology a massive milestone towards the commercialization of the company’s supercapacitor technology.

This ongoing development has allowed First Graphene to create a commercialization roadmap, with the aim of building relationships with development partners, opening the way to a high-tech market predicted to reach revenues of US$720 million by 2025.

Foundation partner Aquatic Leisure Technologies, owner of the Aqua Technics brand of fiberglass pools, now manufactures its pools using First Graphene’s nanotechnology. The company reports its laminating process results in pools that are 30% lighter and 30% stronger, while remaining highly resistant to water and chemicals. ATL reports it has produced more than 1500 PureGRAPH-enhanced pools since the launch of the graphene nanotech range.

Safety footwear manufacturer Steel Blue also launched a range of ultra-durable safety boots in June 2021, featuring a PureGRAPH enhanced scuff cap and outer sole, significantly enhancing the strength and durability of the shoe.

First Graphene is reportedly seeing strong demand from new market segments and gaining traction across several opportunities with a number of results expected in the next quarter.

High Density Poly Ethylene (HDPE) trials to develop an optimized masterbatch with Malaysian-based company DSP (M) Sdn Bhd showed significant benefits over standard HDPE products. Lab results showed a 28% increase in flex strength and 43% increase in stiffness.

Initial testing of HDPE antistatic/fire retardant mining components have also shown positive results and a specialized masterbatch has been developed for the next phase of testing.

Widespread trials are expected to commence soon for thermally conductive polymer compounds with specific renewable energy applications in mind.