Applied Graphene Materials (AGM) specialises in providing graphene in the form of dispersions of nanoplatelets that can be readily incorporated by customers into their products. It is initially concentrating on the global protective coatings and composite materials markets where the financial benefits of the performance enhancements achievable from incorporating graphene may be calculated, encouraging adoption.
Companies: Applied Graphene Materials Plc
AGM’s interims confirm further commercial progress despite the challenges of COVID. There were three new customer product launches in the period (two wax based car care products and a graphene-enhanced primer) and the pipeline of engagements has progressed steadily from 92 to 135 over the past 12 months. The recent £6m fundraise was an important strategic milestone, extending the Group’s cash runway well into 2023.
Applied Graphene Materials (AGM) reported a 20% increase in revenues in the half year to January 2021 and a 17% reduction in LBITDA, in spite of COVID-19 challenges. Although AGM’s graphene nanoplatelet dispersion technology is still at an early stage of commercialisation, we are encouraged by the increasing number of products in the market that are already incorporating its technology and the growing pipeline of projects nearing commercialisation. Aided by a strong global network of third-party
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Looking Ahead At The Next Week
Applied Graphene Materials (AGM) has raised c £6.0m (gross) through a placing, subscription and PrimaryBid offer at 41p/share. Management estimates that the funds raised extend the company’s cash runway from October 2021 well into calendar 2023, enabling it to convert the current opportunity pipeline into meaningful annual revenues during the period.
AGM’s prelims confirm a solid year of progress with customer engagement and technology development continuing despite the challenges of COVID from early 2020. The results are in line with expectations, with the benefits of last year’s cost realignment being seen in reduced losses and effective cash management. The market opportunity remains significant, as reflected by continued growth in the pipeline. Commercial highlights include the promising partnership with Blocksil, which should support re
Applied Graphene Material’s (AGM’s) FY20 results show the beneficial impact of management’s decision in October 2019 to focus on dispersion and application technology to better support product development with those customers presenting the nearest-term revenue opportunities. Revenues increased by 66% year-on-year in FY20 to £83k and adjusted EBITDA losses narrowed by £1.5m to £3.1m. With three new customer products launched in FY20 and three launched so far in FY21, progress looks set to contin
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