Ionic Industries has announced the signing of an agreement for the sale of its first product developed from the Company's portfolio of graphene technologies. Ionic Industries referred to the patented conductive coatings applied to geotextiles as 'one of the world’s first large-scale applications of graphene technologies'.
The supply agreement with GeoFabrics Australasia is for the supply of conductive, coated geotextile for sale by GeoFabrics as their Bidim-C product. The Bidim-C product is used to detect holes and potential leaks in newly constructed dams and water tank projects. The agreement is for the supply of Bidim-C over the next 12 months and will generate up to AUD$1,000,000 (over USD$664,000) in revenue for Ionic.
Ionic stated that these achievements and initiatives mark the beginning of a very exciting period for the Company, driving it toward mass production and marketing of graphene-based products.