In February 2023, Universal Matter acquired Applied Graphene Materials' assets for $1.3 million. Now, AGM has announced that it will be changing its company name to Universal Matter GBR Ltd, effective immediately.
This rebranding aims to reflect the Company's commitment to delivering cutting-edge materials and innovative solutions to customers worldwide.
In November 2022, Applied Graphene Materials (AGM) announced that it aimed to raise money to fund its operations, but was unable to do so. AGM Later said it received non-binding indicative proposals for its sale, and now the company has announced that Universal Matter has agreed to acquire the company's assets for $1.3 million.
AGM says that that the funds from the disposal of its business and main operating subsidiary will be mostly used to repay creditors, the company's staff and operating costs until the company can be wound down.
In November 2022, Applied Graphene Materials (AGM) announced that it aimed to raise money to fund its operations, but was unable to do so. AGM Later said it received non-binding indicative proposals for its sale.
AGM now announced that trading in its shares will be suspended from next Wednesday (February 1st) as the company confirmed it will not publish its reports by the market deadline. The company has until the end of February before it runs out of money.
In November 2022, Applied Graphene Materials (AGM) announced that it aimed to raise money to fund its operations, but was unable to do so. A month later, AGM said it received non-binding indicative proposals for its sale or the sale of its main operating subsidiary. Now, AGM updated on its continuing discussions with various parties that had submitted non-binding indicative proposals for either the sale of its trade and assets, or of shares in its main operating subsidiary.
The AIM-traded company initially sought non-binding indicative proposals from interested parties with a view to completing a transaction by the end of January. It later said that completing a transaction on a solvent basis would likely require shareholder approval at a general meeting, as well as other regulatory approvals.
Last month, Applied Graphene Materials (AGM) reported a failed attempt to raise funds, which caused AGM shares to plunge. Now, Applied Graphene Materials said it received non-binding indicative proposals for its sale or the sale of its main operating subsidiary.
The graphene materials maker said it is in discussions with the parties involved and expects final proposals in early January. After this, the board would select a preferred bidder to progress with. Applied added that there can be no certainty any final proposals will be made, nor the terms of any proposals made.
Applied Graphene Materials (AGM) recently announced that the company aimed to raise money to fund its operations, but in the current market conditions, this is no longer possible. Shares of AGM dropped by over 40% following the announcement, and are down around 80% since the beginning of 2022.
In the six months that ended on January 2022, AGM 's revenues were only £46,000, while its net loss was £1.9 million. The company's cash reserves will likely only last till the first quarter of 2023 or so.
Applied Graphene Materials (AGM) has signed a supply agreement with a global leader in the car detailing industry for an exclusively developed graphene-based solution. The partnership with an undisclosed 'global household name brand' is said to represent a significant milestone for AGM in the car care sector, where it has already announced multiple product launches with smaller participants.
AGM said its new partner is driving innovation in the market and now leads the way in the supply of high-performance auto detailing and finishing products. The addition of AGM's Genable graphene nanoplatelet dispersion technology into car care systems has the potential to significantly improve the barrier performance of waxes, polishes and finishing sprays for vehicles, the company added.
Applied Graphene Materials (AGM) announced its interim results for the six months that ended on January 2022. Revenues were £46,000 (up from £42,000 in the previous half year period), while net loss was £1.9 million (up from £1.8 million).
Despite the low revenues and large loss, AGM's management says that there's a steady growth in potential pipeline projects - as these increased to 192 from 135 last year. The company also updates that it has been progressing with its developments for the battery and hydrogen fuel and storage industries.
Applied Graphene Materials (AGM) has announced that Stanvac-Superon Group, an India-based manufacturer of industrial repair and maintenance solutions, has launched a conductive coating incorporating AGM’s Genable graphene dispersions, for use on industrial power transmission equipment.
Following successful development and testing, the new protective, conductive coating incorporating AGM’s A-GNP35 graphene dispersions will reduce contact resistance in coated copper and aluminium electrical cable joints to reduce the power lost over the connection.
Applied Graphene Materials has announced that England’s Environment Agency (EA) has successfully completed its first application of AGM’s harsh environment anti-corrosion product to one of its flood defense assets on the North East coast of England. The coastal flood defense gates were coated with AGM’s new graphene-enhanced Genable CX-based anti-corrosion primer.
The AGM’s coating system used in this project is a further iteration of AGM’s product offerings for barrier performance and anti-corrosion application. It represents the culmination of 18 months of in-depth testing and evaluation of anti-corrosion performance for both salt-spray and immersion in harsh test regimes.
