IP : Applied Graphene Materials plc - Commercial agreement with James Briggs Limited and Trading Update

Applied Graphene Materials, the producer of specialty graphene materials, is pleased to announce that James Briggs Limited ('JBL'), a leading independent chemicals business, intends to bring a new range of aerosol paint primers containing AGM's graphene to market during the last quarter of 2018.

Due to the outstanding results achieved in coating properties through the incorporation of AGM's graphene Genable® dispersion into their paints JBL anticipates extending the use of graphene technology into other product lines within their range.

Jim Miller, JBL's Commercial Director commented, 'The 2 year development collaboration between JBL and AGM has resulted in our first products coming to fruition. The programme has encompassed both processing and formulation optimisation studies and ultimately demonstrated that AGM's graphene nanoplatelets can deliver a significant extension to coating life against environmental corrosion effects'.

Jon Mabbitt, Chief Executive Officer of Applied Graphene Materials, said:

'I am delighted that after extensive testing we have successfully demonstrated the commercial benefits of incorporating AGM's graphene into a coatings application on an industrial scale. We are continuing to work closely with JBL both for the initial roll out programme and to extend incorporation of our graphene into other JBL products. This is clear validation of our focused strategy of demonstrating AGM's ability to deliver significant material enhancements that can be incorporated on an industrial scale within the coatings sector. We remain confident that this will be the first of many coating applications utilising our graphene.'

AGM is also pleased to announce that it has received first orders for both its Structural Ink materials and its Genable G4400 thermal paste. Both products are being sold within the composites industry and represent a significant step forwards in wider acceptability of graphene in this sector.

Trading Update

The Group also anticipates that trading for the year ending 31st July 2018 will produce a LBITDA* of £(3.9m), with production revenues for the current year of £0.1m. Cash is expected to be in line with forecast at £10.1m.

*LBITDA comprises loss on ordinary activities before interest, tax, exceptional costs, depreciation and amortisation

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