Haydale

Haydale Graphene Industries has announced that it has completed a comprehensive business review and unveiled a strategy aimed at achieving near-term profitability while focusing on high-growth opportunities. Haydale said the review, initiated by a reconstituted board following the company's £3.1m funding raise in October, identified key areas for improvement, operational streamlining, and resource reallocation.

Haydale has reportedly decided to focus on two core business lines - heating ink-based energy efficiency products, and carbon capture technology.

Haydale has announced its financial results for Q3 2024, which is the end of its 2024 fiscal year. Haydale says that while it has developed an excellent pipeline of opportunities, the timeline of converting these into sales takes longer than anticipated.

Haydale's revenue in FY2024 was 4.82 million GBP (up 12% from 2023), and the company reported a slightly improved loss of 3.16 million GBP (down from 3.49 million in 2023).

Haydale has announced that, further to its previous announcement on plans to raise funds, it has successfully completed the Fundraising which is now closed.

The Fundraising has successfully raised in aggregate £3 million (around USD$3.9 million). This comprises £2.5 million (about USD$3.25 million) raised through the Placing and Subscription of New Ordinary Shares, and the rest was raised through subscriptions for Convertible Loan Notes from Octopus Investments. 

Haydale has announced its intention to conduct a fundraising of up to £3.5 million (over USD$4.5 million) in aggregate, including a Placing of New Ordinary Shares, to raise in aggregate £2.17 million (over USD$2.8 million).

The Company proposes to raise a further £52,000 (around USD$67,300) from the Participating Directors, comprising the issue of New Ordinary Shares at the Issue Price. Certain Directors, namely Keith Broadbent, Theresa Wallis and Gareth Kaminski-Cook, intend to participate by way of the Subscription with David Banks intending to participate via the Placing.

Haydale has announced that it has signed a contract with Jersey Energy Technologies ("JET"), a start-up company focused on providing energy efficiency solutions across the Channel Islands, to begin a pilot trial deploying Haydale's underfloor heaters within social housing in Jersey.

Haydale's underfloor heating system utilizes the Company's proprietary HDPlas functionalization technology to unlock the high-level thermal conductivity properties of graphene. Data gathered from Haydale's in-house prototype systems implies up to 30% lower operating cost for their functionalized graphene ink underfloor heating compared to standard wired systems running off mains power. In test conditions, the heaters, which can be uniformly and individually heated, have also shown improvements in flexibility, and durability; reaching maximum temperatures quickly. This presents a potential commercial solution to meet the demand for improved energy efficiency, reducing heating costs for residents without trade off.

Haydale has announced a new contract agreement with Gerdau Graphene, which focuses on the development, industrialization and commercialization of chemical additives, mineral additions and masterbatches with carbon-based nanomaterials, such as graphene.

This collaboration between Haydale and Gerdau Graphene will facilitate the development of graphene infused product lines and synergy between the advanced materials.

Haydale has announced what it refers to as 'a potential breakthrough in the rapidly evolving carbon capture technology sector utilizing plasma functionalized graphene as an inherent component'.

Haydale has worked with Carbon Capture LLC ("CCL"), a newly established company based in Florida, to undertake a feasibility study to build and deliver an initial prototype device, leveraging Haydale's proprietary plasma functionalized graphene, to provide proof of concept that carbon dioxide can be removed from the atmosphere and stored for later release in a controlled environment. Initial indications within this feasibility study reportedly show Haydale's graphene may be capable of adsorbing carbon dioxide.

Specialist structural flooring manufacturers Staircraft have been testing the use of Haydale's graphene-based functional ink for application on their innovative chipboard flooring system. Significant investment has reportedly been made to get the new flooring system to adopt a heating solution that is cost effective and easy to install.

In a recent trial, Staircraft has reported very encouraging results and is now focused on continuing to collect definitive data before introducing the concept to their customer base. 

Haydale recently displayed, for the first time in public, its revolutionary new solution to automotive seat heating labelled the ‘Hot Seat’ at the NEC in Birmingham. Using the Company's patented process and unique materials, Haydale has developed an alternative to existing automotive seat heating technology.

This interesting graphene application is based on the production of a seat heater that is faster to heat, uses less energy and offers a green and eco-friendly alternative to the current solutions. Using the same technology in place for their Underfloor Heating range of products under development, Haydale has now adapted this to provide a novel application for heated seating.

UK-based graphene developer Haydale announced its interim financial results the first half of fiscal year 2024, that ended on December 2023. The company's revenues grew by 38% to £2.47 million, and its net loss reduced to £1.61 million (from £1.89 million in H1 FY23).

Haydale plans to continue with its cost savings plan, to further hone its operations, and the company says it continues to boost its key customer commercial progress on the functionalization powder element of its business.