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Applied Graphene Materials stuck in the red as orders remain elusive

The company is working to convert some of its 120 commercial engagements into supply agreements
Airbus
Airbus is testing graphene-enhanced coatings

Industrial coatings group Applied Graphene Materials PLC (LON:AGM) says it is working to convert some of its 120 commercial engagements into supply agreements after another heavy loss.

The graphene product specialist posted negligible revenues in the year to July, while losses rose slightly to £4.55mln.

READ: Applied Graphene Materials is already ramping up revenues from paint and other composites

Adrian Potts, chief executive, said the adoption of its graphene by JBL, Brit Tipp, Airbus and Puraglobe was evidence customers are beginning to recognise the significant benefits the product can offer. 

He added, however, that at JBL and Airbus completion of the testing regime required to meet customer expectations has taken longer than originally expected.

As a result, the ramp-up in sales is likely to be later than previously anticipated.

"The launch of our Genable product range combined with our test results earlier in the year has been well received across the coatings sector and this has enabled us to accelerate a number of programmes," he added.

Cash at the year-end was £10.4mln.

 

 

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