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Haydale Graphene and Huntsman to develop products

Last updated: 16:26 10 Sep 2015 AEST, First published: 16:42 10 Sep 2015 AEST

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Haydale allows graphene to be applied and ‘functionalised’ in other materials

--ADDS BROKER COMMENTS--

Haydale Graphene (LON:HAYD) has signed letter of intent with Huntsman Advanced Materials which could represent the first-step in commercialising the AIM quoted firm’s graphene technology.

On AIM, Haydale shares advanced around 5% to trade at 155p following the news.

It is envisioned that Haydale’s graphene enabling technology will be used together with Huntsman’s market leading ARALDITE resins and heavy duty adhesives to create an ‘enhanced’ product.

The first step will be the development of a graphene enabled ‘master batch’ which will be used for development and validation.

Graphene, the so-called miracle material, is extremely thin and light but is also very strong. It can be used as a conductor, for heat-transfer or to add strength and rigidity.

Haydale’s technology, which uses plasma reactors, allows graphene to be applied and ‘functionalised’ in other materials thereby creating a new and potentially enhanced material that carries graphene’s beneficial properties.

“We see graphene enhanced polymer resins and their use in composite materials as being a revolution,” said Gerry Boyce, managing director of Haydale’s HCS subsidiary.

“This work opens up the potential for a whole new range of advanced composite materials and products with enhanced performance and lower cost."

Group chief executive Ray Gibbs, meanwhile, said: "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."

Huntsman’s Dr David Hatrick, European technology director, said the combination of his company’s capabilities with epoxy chemistry and HCS’s expertise with functionalised graphene should create multiple opportunities in the growing composites market.

“The announcement marks another strong step forward for Haydale as it seeks to secure opportunity for its functionalised graphene nanoplatelets,” said Cantor Fitzgerald analyst Richard Hickinbotham.

The City broker rates Haydale as a ‘buy’ with a price target of 200p, which implies some 30% upside to the current price of 155p.

Hickinbotham highlights that, this target sees Haydale continuing to achieve key milestones, and as well as strong newsflow that’s expected over the coming year- which would include first commercial orders.

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