First Graphene confirms strong quarter, looks ahead to greater commercial success
Feb 03, 2022
First Graphene Ltd (ASX:FGR, OTCQB:FGPHF) has reported a 94% growth in revenue to close out the second quarter of the 2022 financial year.
The continued growth and momentum puts the company in a strong position to achieve its 2022 targets.
In fact, the company has achieved several milestones over the last quarter.
Making leaps in the coatings market
The launch of PureGRAPH®, a range of enhanced conductive coatings from nanotechnology developer Protectology Ltd, has opened the path to the lucrative European coatings market.
The commercial agreement between Protectology Ltd will grow a range of PureGRAPH® enhanced coatings marketed under the PROGRAPH® brand.
Addressing CO2 emissions in the cement and concrete industries
The cement and concrete sectors are expected to account for a $774 billion market by 2027, with more than 4.2 billion tonnes of cement produced in 2020.
As cement production is responsible for around 8% of global CO2 emissions, First Graphene is focusing its work with industry partners to improve and realise major reductions in CO2 emissions.
According to a 2017 UN Global Status Report, the global building sector is growing at an unprecedented rate, with 230 billion square metres of new construction to occur globally over the next 40 years.
To put that in perspective, that’s the equivalent of adding the city of Paris to the planet every week.
PureGRAPH® enhanced cement additives have been found to reduce cement emissions by 16 and 22%, giving the industry a boost in achieving its 40% reduction target by 2030.
Technical developments shift focus to major markets
First Graphene was awarded funding from Innovate UK EDGE to progress its work on supercapacitor graphene hybrid materials.
The £15,000 funding from Innovate UK will be added alongside AU$100,000 funding from First Graphene’s internal resources to advance the technology – a massive milestone towards the commercialisation of the company’s supercapacitor technology.
This ongoing development has allowed First Graphene to create a commercialisation roadmap, with the aim of building relationships with development partners, opening the way to a high-tech market predicted to reach revenues of US$720 million by 2025.
Foundation partners progress commercial rollout of graphene-enhanced products
Foundation partner Aquatic Leisure Technologies, owner of the Aqua Technics brand of fiberglass pools, now manufactures every Aqua Techincs pool using First Graphene Ltd (ASX:FGR, OTCQB:FGPHF)’s nanotechnology.
The company reports its laminating process results in pools that are 30% lighter and 30% stronger, while remaining highly resistant to water and chemicals.
ATL reports it has produced more than 1500 PureGRAPH®-enhanced pools since the launch of the Graphene nanotech range.
Safety footwear manufacturer Steel Blue also launched a range of ultra-durable safety boots in June 2021, featuring a PureGRAPH® enhanced scuff cap and outer sole, significantly enhancing the strength and durability of the shoe.
Looking ahead to the third quarter
First Graphene is seeing strong demand from new market segments and gaining traction across several opportunities with a number of results expected in the next quarter.
High Density Poly Ethylene (HDPE) trials to develop an optimised masterbatch with Malaysian-based company DSP (M) Sdn Bhd showed significant benefits over standard HDPE products.
Lab results showed a 28% increase in flex strength and 43% increase in stiffness.
Initial testing of HDPE antistatic/fire retardant mining components have also shown positive results and a specialised masterbatch has been developed for the next phase of testing.
Widespread trials are expected to commence soon for thermally conductive polymer compounds with specific renewable energy applications in mind.
Continued commercial success and a raft of promising future projects combine to give First Graphene reason to expect a strong second half.
Written by Duncan Bailey