LONDON (Alliance News) – Graphene products developer Haydale Graphene Industries PLC on Thursday said its composites arm, Haydale Composite Solutions Ltd, has signed a letter of intent with Swiss-based epoxy, acrylic and polyurethane-based polymer products company Huntsman Advanced Materials (Switzerland) GmbH, a unit of US-based Huntsman Advanced Materials.
The letter of intent is the first step towards the company inking a joint development and commercialisation agreement with Huntsman, it said. No financial details were disclosed.
Under the deal, Haydale will use its HDPlas process to make graphene nano platelets which will be added to Huntsman’s resins to create a new epoxy resin product.
“We have identified the composites market as a strategic sector for our functionalised graphene and other nano materials with HCS being a fundamental route to market for our plasma functionalised materials. This agreement represents a major opportunity to work with a global partner to develop a whole new range of formulated resins with enhanced properties which they can sell into the composites’ market across the world,” said Haydale Chief Executive Ray Gibbs.
Haydale shares were up 7.9% to 158.00 pence on Thursday morning, one of the best performers in the AIM All-Share.
By Sam Unsted; email@example.com; @SamUAtAlliance