Applied Graphene Materials secured government funding for two one-year graphene projects from Innovate UK (previously known as the Technology Strategy Board). The first project will investigate the use and dispersion of graphene within polyester films in collaboration with DuPont Teijin Films.
For the second project, AGM will partner with CPI and PolyPhotonix to investigate the development of graphene-based transparent electrodes. Both projects are worth about £300,000 together, out of which AGM will fund about £100,000.
AGM also reported that they improved their production process, which results in better consistency and higher-quality graphene.
AGM issued a letter to their shareholders, in which they said that their IPO in late 2013 not only helped by raising capital, it also helped promote the company and drive interest in potential customers and collaborators. AGM doubled their workforce in recent months, and will soon have 30 employees.
AGM will report their full-year (which ends on July 2014) financial results on November 5. The overall trading performance has been "broadly in line" with the directors' expectations and net cash will be around £8.5 million ($13.8 million) at the year end date. In April the company reported a pre-tax loss was £1.2 million ($2 million USD) for the second half of 2013.