Haydale Graphene Industries plc (AIM: HAYD) announced that it will acquire Innophene Co., Ltd, a Thailand based business focussed on the production of graphene enhanced conductive ink and composites. The transaction is expected to be finalized by mid-September 2016.
Innophene, founded in 2011, developed a one-stage exfoliation/dispersion process to create a range of graphene-enhanced transparent conductive inks for inkjet and other printing platforms, in conjunction with the Thailand National Science & Technology Development Agency. They have also developed a graphene enhanced PLA (Poly-Lactic Acid) resin (commonly used in medical devices and 3D printing) that shows improved mechanical and barrier performance without sacrificing transparency, thereby allowing the material to be colored through the addition of pigments. (Graphene loaded PLA will be black).
A key benefit of the Acquisition to Haydale is Innophene’s ability to harness local expertise to design and develop high value applications for the carbon based Organic and Printed Electronic market. Their graphene inks are suitable for screen, roll to roll and inkjet printing and can be printed on a range of materials.
Innophene has also started to focus on graphene enhance composite applications in their local market. Following the acquisition by Haydale, Innophene will leverage the combined group’s expertise in composites.
Haydale has been trialling Innophene’s graphene enhanced inks internally and with a number of potential customers in the Far East region for several months. The Innophene portfolio of ink products and its PLA “non-black” resin will extend the Haydale’s products available for sale.
Innophene’s access to The Thailand Science Park in Bangkok, with its extensive analytical and processing capabilities, provides a platform for it to become the Group’s Far East Centre of Excellence. The Acquisition will also provide Haydale with research and development capability for current and potential Far East customers. This will require the delivery, initially, of a HT60 plasma reactor to Innophene’s site on the Thailand Science Park to provide low cost processing and treatment services. A second reactor is likely to follow in 2017 to meet anticipated demand in the region.
Ray Gibbs, CEO at Haydale Limited, said:
“We have been working with the Innophene team for over 9 months, wh
ere they have carried out a number of projects for us. The analytical and application development facilities that they have access to on the Thailand Science Park is substantial and we have been impressed with the quality and speed of their response. Innophene’s managing director, Mr. Komkrit Sajjaanantakul, has 10 years’ experience in medical devices, bio plastics and sensors and has started to develop local sales opportunities.
There is a need for investment by Haydale in the form of our plasma reactor(s) and a processing laboratory. However, this strategic move is set to ensure a rapid response and application engineering support to the fast moving Far East market.”
Mr. Komkrit Sajjaanantakul, Managing Director of Innophene, added:
“We are excited to be a part of Haydale as we see great opportunities by working together. The technology and know-how developed at Haydale, especially in composites, will create new materials. As we know, the Asia markets are maturing and fast moving especially where new technologies are concerned. We believe that it is the right time for Haydale to establish an Asia R&D hub here, and are confident that our customers will be excited about our full services and applications solutions from Haydale Technologies in Thailand.”