Firm Records Losses, but Says Potential Is Huge; TECHNOLOGY COREENA FORD Coreena.Ford@ncjmedia.Co.UK

The Journal (Newcastle, England), November 6, 2014 | Go to article overview

Firm Records Losses, but Says Potential Is Huge; TECHNOLOGY COREENA FORD Coreena.Ford@ncjmedia.Co.UK


AFIRM which posts annual turnover of PS4,000 and losses of more than PS2m is poised to be a global leader, its directors believe.

Applied Graphene Materials yesterday published its first full-year financial results since listing on the AIM stock exchange, with pre-tax losses widening to PS2.3m.

But the Redcar business is operating in a pioneering sector with the potential to accrue hundreds of millions in revenue - and it is one of only three UK manufacturers in this sector.

The firm, founded by Professor Karl Coleman in 2010, manufactures graphene, a wonder substance no thicker than a single atomic layer of carbon which is stronger than diamond, completely impermeable and heralded as the best conductor of electricity and heat.

Around 20 global companies produce graphene, which is renowned for the part it plays in tennis racquets used by Andy Murray, yet the last 12 months has seen the Teesside firm focus on how it can applied to a whole range of sectors.

The firm has identified over 20 subsectors within three target markets, from coatings for the marine industry to polymers for the aerospace industry. It is currently focusing on sending samples to potential partners rather than commercial quantities - but the portfolio of potential customers represents a good spread of large potential demand and includes likely "nearer term" adopters.

Chief executive Jon Mabbitt said: "At the start of which there was really only a tennis racquet that declared the incorporation of graphene.

"We can see progress reported in touch-screen technology, down-well oil drilling lubricants, printable inks with security tagging, electrodes in lithium-ion batteries and selectively permeable membranes for filtration systems. …

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