Haydale

UK-based graphene developer Haydale announced that it has successfully completed £5 million funding round, selling new ordinary shares. The round included an opportunity to raise a further £1.0 million, which will close next week. 

Haydale recently executed a collaboration agreement with PETRONAS Technology Ventures, in an effort to accelerate commercialization of graphene-based formulations in various different industries. The company also announced a £350,000 three-stage project with Cadent to develop graphene ink-based low-power radiator heaters.

Haydale and PETRONAS Technology Ventures (PTVSB), the technology commercialization arm of Petroliam Nasional Berhad (PETRONAS), have executed a collaboration agreement to functionalize graphene for product applications, in an effort to accelerate commercialization of graphene-based formulations in various different industries.

The agreement, which runs through to 31 December 2025, will see the parties exploring graphene for further commercial applications in battery cells, composites, coatings and thermal materials, among others. The collaboration will also cover knowledge sharing between the parties.

Haydale has announced its next collaboration with Cadent, to develop graphene ink-based low-power radiator heaters. The £350,000 three-stage project will run for 12-months and is aiming to develop a tested and validated market-ready product as a cost-effective alternative for Cadent's customers when their gas supply is interrupted.

Following continued success on the low-power, battery operated water heating development, the aim for the latest project is to incorporate the same graphene-ink based technology into different designs to deliver bespoke solutions for a wide range of customer requirements.

Haydale has reported the completion of stages one and two of a three-stage low-power hot water project in collaboration with Cadent Gas. Haydale said the project, first announced in February 2022, aimed to address the challenge of providing a low-power water heating solution during interruptions to the gas supply, particularly for vulnerable customers such as the elderly or disabled.

During stage one, Haydale said it identified four specific and detailed user case scenarios where their graphene ink-based heaters could be effectively used across Cadent's network. That initial stage helped lay the foundation for subsequent development work, with building on the findings - stage two of the project - focused on creating an operational pre-product prototype. The prototype showcased Haydale's functionalized graphene ink, which is printed onto flexible heater sheets which were then enclosed within an insulated 3D printed portable unit.

Haydale Graphene Industries expects revenue for the year ending June 30 to be ahead of market expectations, reporting strong performance in its U.S operation. However, this revenue rise will reportedly be offset by higher administrative costs linked to investments and an increase in overheads. Haydale's shares fell 9.5% this morning after the company cautioned that project delays will impact its results for the year to 30 June 2023.

The company said a number of projects which had been expected to start this month have been delayed until the first quarter next year. Haydale says gross profit is expected to be in line with market expectations. Year-end net cash is expected to be neutral in comparison to financial year 2022. Haydale also foresees that the momentum will continue into financial year 2024.

Haydale has announced that it will be a key contributor to Viritech's development of fuel cell hydrogen electric vehicles (FCHEVs).

Viritech, a developer of high-performance hydrogen powertrain solutions for the automotive industry, has secured a major role in Ford Motor Company's three-year hydrogen fuel cell E-Transit trial and Haydale will lead the development of new functionalized materials and resins for Type V pressure vessels to support Viritech's proprietary integrated mounting system Graph-Pro™.

Haydale has announced that it has been awarded SMART Flexible Innovation Support ("SMART FIS") from The Welsh Government to accelerate the development of its graphene underfloor heating product and range of biomedical sensor inks.

As part of a new innovation strategy for Wales, aimed at supporting Welsh industry by increased investment in research, development, and innovation, SMART FIS will provide Haydale with funding totaling £182,843 over a two-year period. Part of this funding will enable Haydale to accelerate the development of its prototype graphene underfloor heating ("UFH") towards a market-ready CE product that can be tested in a home environment. It will support continued engagement with partners such as City Energy Network Ltd and Plumbase.

Haydale recently announced an extension of its cooperation with Viritech, a developer of high-performance hydrogen powertrain solutions for the automotive industry. The two companies will work together on solutions for hydrogen pressure vessels, initially focusing on commercial vehicles.

In focusing on Type V, linerless pressure vessels, Viritech and Haydale are looking to develop 'the world’s most efficient vehicle storage system for gaseous hydrogen'. This technology could have wide application, including to the automotive, aerospace, and marine industries, with immediate application in the emerging market for fuel cell vans.

Haydale recently announced it will be partnering with CERN, the European particle physics laboratory, on a new project aimed at improving the durability of the lubricants currently used on some of the world’s largest particle physics equipment including the Large Hadron Collider.

Polymers in the oils and greases currently used are heavily susceptible to radiation damage leading to degradation of the lubricant. Using Haydale’s HDPlas® process, the aim is to increase the lifetime of the lubricants by adding functionalized nanomaterials, including graphene. The goal is to increase the material’s resistance and better dispersion characteristics should help to achieve this. As well as the potential for significant cost savings, increasing the service life of the lubricants in use is perhaps even more important given the highly limited access there is in these areas.

Haydale has announced it is working with City Energy Network Limited and Plumbase Limited on developing and distributing its graphene underfloor heating ("UFH").

The ink heater technology applied to clothing worn by British athletes at the Tokyo Games has been applied in an initial prototype for domestic UFH with the potential to replace gas central heating and link into other energy efficient technologies.