First Graphene boss Mike Bell says the junior has a great opportunity to grow global revenue and growth across new and emerging markets, on the back of a key announcement.
First Graphene boss Mike Bell says the junior has a great opportunity to grow global revenue and growth across new and emerging markets, on the back of a key announcement.
Henderson-based First Graphene told the market on Wednesday it had signed multiple agreements – both a distribution agreement and MOU – with Syron GreenThrust Dynamics.
As a result of this, Syron will distribute the junior’s assorted PureGraph-based products across India, the United Arab Emirates and other countries who are a part of the South Asian Association for Regional Cooperation.
Under the three-year distribution timeline, a stable volume ramp up of 0.25 tonnes would be begin in the first year and reaching 20t in the third year.
The company said that once the 20t per year marker had been attained, an option would then be able to be exercised – in terms of not only be able to negotiate an India-based manufacturing solution.
This could potentially result in a joint venture or licenced-based production facility.
“India has been one of the most exciting growth markets globally for advance materials in recent years, and this partnership with Syron gives us a strong and credible platform to scale local sales rapidly,” Mr Bell said.
“We have a clear commercial pathway in this market, from initial distribution through to significant tonnage demand and an option for in-country manufacturing.
“This structured and scalable opportunity is strongly aligned with our strategy to grow global PureGraph revenue across new and emerging markets.”
On November 4 last year, the junior announced it would help facilitate a series of UK-based projects in the UK, propelled by the company’s commercial partner Breedon Group producing PureGraph-enhanced cement.
First Graphene closed trade up Wednesday up 2 per cent to 8.8 cents.
