First Graphene has announced progressive traction in their financial and operational performance for the quarter ending June 2024, with revenue reaching approximately AUD$125,000 (over USD$81,000), reflecting a diversifying clientele across various industries.
The Company is optimistic about FY2025, anticipating new product productions to drive them towards positive cash flow, bolstered by a 60% decrease in operational costs over the past four years.
Key developments include strategic partnerships for sustainable materials, trials with the UK’s largest cement producer, and global market expansion through new distribution agreements. Earlier this month, First Graphene announced its partnership in a collaborative project aimed at advancing low-carbon hydrogen production and creating safer, more efficient storage solutions. The Company’s role will involve leveraging its expertise in graphene nanoplatelets to enhance the strength and impermeability of cryogenic hydrogen storage tanks, contributing to a project valued at around $3.72 million.