Edison have been engaged by Applied Graphene Materials to provide investment intelligence to support its capital markets activity.
In the recently completed Investment Research, Edison put together a QuickView, a snippet of which can be found below:
In October 2019 Applied Graphene’s (AGM’s) management announced it was re-aligning resources around dispersion and application technology to better support product development with customers presenting the nearest-term revenue opportunities.
This focus supported six customer launches of coating products containing AGM’s graphene dispersion during calendar year 2019. These launches are for both mass-market and specialist applications. As a result of the ensuing uptick in product sales, revenues so far for FY20 are already 20% higher than the whole of FY19.
AMD is delighted to announce the appointment of Dr Anthony Thomson MSc MBA PhD FRSM to its Advisory Panel to advise on IP commercialisation. In addition, he will also take on the role of CEO of Life Science subsidiary company CoM3D which is working in conjunction with our partners at the University of Texas at Austin under the guidance of Dr Mohammed Maniruzzaman.
Anthony held numerous leadership roles in technology, automotive, health, capital markets and University sectors and has led the formation, growth and exit of several businesses including corporate ventures and University spin-outs, most recently managing a successful exit to US giant, Qualcomm.
AMD CEO John Lee says, “I have known Anthony several years and have sought his valuable guidance several times in the history of our company – I look forward to his growing involvement in our day to day business and especially in the application of his skills to the development of CoM3D”.
In addition to his work with AMD and COM3D, Anthony is also a Non-Exec director of a number of high growth SMEs across diverse sectors including Cyber Security, IT and Digital Transformation, Built Environment, Retail and Healthcare. His leadership roles include CBO of Elephants Child Advisory, Chief Strategy Officer at Isansys Lifecare and various senior roles at Qualcomm; University of Auckland; Euronext; ABN AMRO; BNP Paribas; LIFFE and Chesterton.
Anthony has an MSc and a PhD from the University of Otago (NZ) and is a Fellow of the Royal Society of Medicine. His strategic business skills are also recognised with an MBA from Cranfield School of Management where his thesis received the Deans Prize for its insight into commercialisation strategies for University technology. He has also completed the Proteus Leadership Programme at London Business School.
Partners in a recently completed UK government funded NATEP technology programme - Composite Tooling and Engineering Solutions Ltd (CTES), SHD Composites Ltd (SHD) and Applied Graphene Materials plc (AGM) - have subsequently made a significant step forward in demonstrating the viability of an exciting new materials development that has the clear potential to offer significant time and cost savings to aerospace composite tool designers.
SHD, working closely with the project partners, has developed a prototype tooling material that combines cure at initial low temperatures (80-90°C), with the ability to be post-cured to achieve a maximum service temperature in excess of 300°C. This cure flexibility enables the use of low-cost pattern materials and progression to a final production tool without the need for an expensive, time consuming and accuracy-losing intermediate tool phase, or manufacture of an expensive, metallic master model.
The tooling resin chemistry has been enhanced by the addition of AGM’s A-GNP35 graphene nanoplatelets, significantly enhancing the matrix toughness and providing extra resilience against variations in processing conditions and resin micro-cracking over repeated production cycles. The graphene can be applied into the tool structure by addition into the bulk tooling material or discreetly targeted at critical regions by means of AGM’s Structural Ink® printing technology.
The new material has been developed with cost savings to major aerospace programmes in mind and in a technology zone where materials choice and tool design are inextricably and critically linked. The demonstrator was a 10m long CFRP AFP mandrel tool, engineered by CTES (manufactured by Retrac Composites Ltd, Swindon) and was purposely chosen as representative of the industry’s latest and highly demanding requirements.
Over coming weeks, the project team will be disseminating more details through industry forums, however the outcome was very successful, delivering a fully functional composite tool and demonstrating the potential for significantly lower costs, while maintaining the highest performance.
Although the new materials technology remains at the prototype/prove-out stage, the project partners are already actively engaged with interested parties keen to access the benefits of the system. As well as proving out production robustness, development work has also progressed to the processing of the material “out of autoclave”, as well as the potential for applications in prototype tooling for high performing thermoplastic materials.
Sales at Teesside's Applied Graphene Materials (AGM) have already exceeded 2019’s total by 20%, according to the firm’s latest interim results.
Revenues rose to £35,000 in the six months to January and are up to £60,000 for the year-to-date, having recorded particularly strong sales in February.
AGM, which is a leading innovator in the manufacture and application of graphene powder, said the business is in a strong position to support further growth, with net cash of £4.3m at the period end – enough to see it through to the fourth quarter of 2021.
Interim losses narrowed to £2.28m compared to 2019’s £2.37m.
The group, which has its headquarters at The Wilton Centre, launched a number of new products last year using its graphene dispersion technology, including an anti-corrosion primer in collaboration with JBL, that bike and car parts specialist Halfords started selling in store and online last October.
Other collaborations included the roll-out of a liquid coating roofing system last August with Alltimes Coatings and a graphene-enhanced anti-corrosion product in January this year for harsh environment industrial application, in conjunction with Blocksil.
A strategic review has shown that Asia has the potential to be a core market for AGM, with the firm saying it had a “positive engagement” with investors in Beijing in October 2019, though the coronavirus outbreak has delayed a follow-up.
AGM, which has sales desks in the UK and Kentucky and Oklahoma in the US, said it is closely monitoring the coronavirus situation and has taken the appropriate precautions to keep employees safe. It doesn't expect the coronavirus pandemic to impact on its cash flow, with remote working and a decrease in travel likely to boost its liquidity.
Chief executive Adrian Potts said : “I am pleased that AGM has continued to make good progress in converting customer engagement into product launches, with several applications launched in the period that are now available to retail as well as specialist industrial customers.
“Our progress continues to be underpinned by AGM’s industry-leading know-how in graphene dispersion and application. We are building an ever-increasing bank of supporting data that will help us accelerate customer application and testing, while the standardisation of a number of our graphene products will also make our material more acceptable to a broader customer base.
“Our focus remains on helping our customers realise the significant commercial potential the incorporation of graphene can offer them. We are confident that our pipeline of engagements is moving progressively towards further product launches and growing revenues in the near-term, with these successes expected to come primarily from our focus area of paints and coatings.”
AGM was founded by Prof Karl Coleman in 2010 with operations and processes he initially developed at Durham University. In 2013 the firm was admitted to the London Stock Exchange’s AIM for smaller companies and expanded its infrastructure to go global.
AGM uses the materials it manufactures to assist customers across a range of sectors who are producing graphene-enhanced products, and the company has a primary focus on anti-corrosion primers’ and coatings.
Following the signing of a distribution agreement in 2019 with CAME srl in Italy, Applied Graphene Materials (AGM) visited the international chemical distribution business in February 2020. As part of AGM’s commitment to excellence in customer service and to supporting our developing distributor network with effective technical know-how, Andy Gent, Commercial Director and Lynn Chikosha, Coatings Development Manager, met with Verena Cepperulo, General Manager and her team.
The week-long visit in February saw CAME arrange several new customer meetings from the coatings, adhesives and lubricants markets. Discussions focused around the progress CAME and their customers are making with AGM's graphene additives.
Lynn Chikosha, Coatings Development Manager commented: We reviewed AGM’s latest results in barrier and anti-corrosion coatings applications and with the help of CAME strengthened our engagement with customers from the last visit before engaging with a number of new customers. The team at CAME had lined up some really exciting potential customers where they see alignment with our graphene and its applications. Looking forward to lots of exciting collaborations in the future! As always, the team at CAME were excellent hosts.
Andy Gent, Commercial Director commented: I think it is fair to say that the collaboration between AGM and CAME is going from strength to strength. Following the successful launch of our partnership during 2019, we have started 2020 with a huge amount of interest from within the Italian market. Our colleagues at CAME have been able to identify a significant number of exciting project opportunities with a key focus on our graphene’s outstanding barrier properties. I am very much looking forward to seeing how these projects develop.
Applied Graphene Materials plc, (AGM) based at The Wilton Centre in Redcar, is a leading innovator in the manufacture and application of graphene powder, a form of carbon, which can have transformational performance when added to other materials.
During his visit, Mayor Houchen was able to see first-hand the manufacturing of high-performance graphene materials which are being produced here in the Tees Valley, and he also learnt more about some of the commercial projects the firm is pursuing.
The firm also has sales desks in UK, Kentucky and Oklahoma and has recently secured several new distributors, signing agreements with firms in Italy, Japan, China and South Africa.
AGM uses the materials it manufactures to assist customers across a range of sectors who are producing graphene enhanced products. The Company has a primary focus on anti-corrosion primers and coatings, such as a recently customer-launched liquid coating roofing system for the construction industry to enable substantially longer lasting asset life. Making best use of its unique properties, graphene can be used in paints, coatings, lubricants, adhesives and batteries among an ever-growing number of applications.
The company was founded by Professor Karl Coleman in 2010 with operations and processes he initially developed at Durham University. In 2013, the firm was admitted to London Stock Exchange’s AIM for smaller companies and expanded its infrastructure to go global.
Mayor Houchen said:
There is some truly amazing ground-breaking work going on right here in Teesside, Darlington and Hartlepool that is attracting attention right across the world with our highly-skilled workers using their expertise in a range of sectors, and Applied Graphene Materials is a great example of that.
It was brilliant to learn all about their work and their interesting opportunities in our region. They are an example of a firm creating the products of the future in sectors we need to support, and we as a region are leading the way.
Adrian Potts, AGM’s CEO noted:
It was a real pleasure to have Mayor Houchen visit today to see what we do and to understand more about graphene materials and the potential they offer in real world applications.
To enable the Mayor’s team to see this technology right here in the Tees area is important in gaining an appreciation of the breadth of opportunity that it could represent.
Applications are apparent in a wide range of sectors for the local area including steel, wind turbines, and industrial coatings and other adjacent advanced technologies such as composite materials. We look forward to stronger links with local companies and the Mayor’s office as a result of this visit.
Alltimes Coatings have worked in partnership with Applied Graphene Materials and successfully used their recently launched Advantage Graphene anti-corrosion sprayable coating in what could be the world’s first roofing application using a graphene enhanced coating system.
Nigel Alltimes, Managing Director, Alltimes Coatings Limited, said:
We believe that with the launch of Advantage Graphene, we are bringing to market a unique and revolutionary liquid roofing system for our industrial and commercial customers. Without doubt, Applied Graphene Materials' deep understanding of coating technology and how best to effectively integrate graphene into novel chemistry, has played a major role in the successful launch of this product. Early feedback from our customers has been very positive and we anticipate strong uptake as we extend the performance of our product range with graphene technology.
Applied Graphene Materials are exhibiting at Corrosion 2020 in Houston, Texas on 15-19 March 2020. Please visit our stand number 1254.
At the show AGM will be promoting our Genable® range which delivers outstanding enhancements to anti-corrosion and barrier performance, while providing opportunities to further optimise other coating characteristics.
We will be giving a presentation titled: Improvements in Anti-corrosion Performance through the Integration of Graphene Nano Platelets (GNPs) into Coating Systems for C4/C5 Environments via GNP Tie Coats.
John Willhite and Adrian Potts will be at the show to answer any questions you may have. If you would like to arrange an appointment to visit us you can contact us by e-mail at firstname.lastname@example.org.
Applied Graphene Materials, the specialty producer of graphene materials, announces that the Company will present to the global paints and coatings industry at five international conferences this spring.
Over the last 12 months, the Company has seen several customer coatings containing AGM’s graphene dispersion technology reach the consumer market, including Halfords’ graphene-enhanced primer and James Briggs’ Hycote graphene anti-corrosion primer. The Company continues in its commitment to developing customer engagement in the coatings sector by presenting the performance data supporting the application of its proprietary market-leading graphene enhanced coatings technology.
AGM has developed a robust high-volume synthesis production technology for graphene nanoplatelets (A-GNPs). A-GNPs possess unique characteristics that are then tailored into a range of commercial production ready dispersions (Genable® range), which deliver outstanding enhancements to anti-corrosion and general barrier performance, while providing opportunities to further optimise other coating characteristics.
AGM will take part in five leading international industry events, presenting selected
technology papers at the following:
Corrosion 2020, based in Houston, Texas (15-19 March 2020)
The American Coatings Show, based in Indianapolis (30 March – 02 April 2020)
Eurocoat, based in Paris (31 March – 02 April 2020)
Paint Expo, based in Karlsruhe, Germany (21-24 April 2020)
Pipelines constitute a major infrastructure investment frequently carrying materials which in the event of failure can cause significant loss to the owner and serious potential for environmental damage. To fulfil their role pipelines often run long distances either underwater or underground. This physical challenge is often further complicated by the crossing of international borders introducing complex codes and standards of management. Coatings are essential to the protection of pipelines from corrosion and subsequent failure but are themselves subject to degradation by severe abrasion, hydrothermal aging and chemical degradation. These coating systems are typically considered to be passive or active. Passive systems prevent corrosion by blocking key elements of water, oxygen and salts from reaching the pipe surface. Cathodic protection systems (CP) are reactive systems designed to protect pipelines in the event of failure.
Graphene was first produced and identified in 2004 by the group of Andre Geim and Konstantin Novoselev at the University of Manchester, an event which was followed by the Nobel prize for Physics in 2010. One of the remarkable properties of graphene is its impermeability to gases. Graphene manufactured as a single monolayer is time consuming, expensive and difficult to scale. Graphene nanoplatelets (GNPs) offer a cheap and scalable alternative for use in barrier systems. Much research has been carried out on the implementation and use of graphene in coatings including those for pipelines. Direct application of GNP into epoxy has been discussed by Battocchi et al (1) who observed that low level additions of GNP offered improved barrier properties and corrosion mitigation together with improved abrasion resistance. Budd et al(2) applied GNP in laminate structures for flexible risers demonstrating the potential barrier properties of graphene in aggressive conditions. Applied Graphene Materials (AGM) GNPs are manufactured using the company’s patented proprietary “bottom up” process, yielding high specification graphene materials. AGM produce a range of GNP dispersions capable of easy addition into coating systems and have undertaken significant development activity to demonstrate their use in coating systems enabling improved in barrier performance and corrosion resistance.
Current organic coating systems designed for protective coatings applied in harsh environments, such as bridges, are typically comprised of a number of different coating layer, each providing a different set of properties. A basic system usually consists of three layers, which may include a zinc rich primer coat offering sacrificial protection, an intermediate coat and a final topcoat for environmental protection. Typical dry film thicknesses of these coats is around 50 to 150 µm for the primer and intermediate coat and 50 µm for the top coat. Recently it has been demonstrated that GNPs, both as prepared and chemically functionalised, when incorporated into an organic coating system or host matrix, provide via a highly tortuous path which acts to impede the movement of corrosive species towards the metal surface (Okafor et al[3) ) creating a passive corrosion protection mechanism. In support of this, previous work by Choi et al (4) has also shown that very small additions of GNPs decreased water vapour transmission rates indicating a barrier type property, while some authors Aneja et al(5) also report an electrochemical activity provided by graphene within coatings. The introduction of GNPsinto the intermediate coat has recently been demonstrated by AGM(6) to increase significantly the impedance of a protective coating system as measured by EIS when studied in conjunction with Neutral Salt Spray testing (ASTM B117). The intermediate epoxy was formulated as shown below in Table 1.
Three different GNP-containing variants of the control were prepared (D1-D3) using the same initial preparation route as for the epoxy prototype base, by substituting commercially available GNPcontaining dispersion additives (formulation component 10) for epoxy in the final step (formulation component 9). The GNP dispersion additives were effectively treated as masterbatches, and were added in varying amounts according to their graphene content and the final GNP content specified in the end coating (Table 1). The dispersion used in the preparation of D1 and D3 contained a reduced graphene oxide type GNPs (A-GNP10). The dispersions used in the preparation of D2 contained GNPs of a ‘crumpled sheet’ type morphology with a relatively low density and high surface area (A-GNP35). In addition, dispersion D3 based on A-GNP10 contained an active corrosion inhibitor.
Prior to coating application, all substrates were degreased using acetone. Each first coat was applied to grit blasted mild steel CR4 grade panels (Impress North East Ltd.), of dimensions 150 x 100 x 2mm, by means of a gravity fed conventional spray gun. The over coating interval was 3 hours with all panels permitted a final curing period of 7 days at 23°C (+/-2°C). Dry film thickness of the prepared coatings were in the range of 50-60 microns for single coat samples and 150-160 microns for multi coat samples. Full details of the coating systems prepared can be seen in Table 2. All substrates were backed and edged prior to testing.
The panels were placed in a Neutral Salt Spray corrosion chamber, running ISO 9227 for a period of up to 1440 hours. This test method consists of a continuous salt spray mist at a temperature of 35°C. Panels were assessed at 10 day (240 hour intervals) for signs of blistering, corrosion, and corrosion creep in accordance with ISO4628. These assessments were complimented with electrochemical measurements, carried out at the same intervals. All electrochemical measurements were recorded using a Gamry 1000E potentiostat in conjunction with a Gamry ECM8 multiplexer to permit the concurrent testing of up to 8 samples per run. Each individual channel was connected to a Gamry PCT1 paint test cell, specifically designed for the electrochemical testing of coated metal substrates.
Figure 1 shows the progression of impedance modulus for the three coat system samples, measured at 0.1 Hz, over the time period during which the samples were subjected to NSS conditions. Initial impedance values (recorded at t=0) range from the orders of 108 to 1010 Ω.cm2 . The control sample, consisting of a zinc rich primer coat, a layer of commercial equivalent epoxy and polyurethane topcoat, displays the lowest overall impedance values in addition to one of the higher rates of decrease of impedance from the t=0 point. When GNPs are introduced to the intermediate layer, the impedance modulus is increased suggesting that the inclusion of GNPs is acting to increase the barrier performance properties of the system as a whole. The incorporation of A-GNP35 into D2 gave a final system uplift of 5 orders of magnitude above the control. Throughout the testing the D2 formulation showed little change in impedance, compared to the other samples. The achievement of >109 Ohm.cm2 @ 0.1Hz over a period of 1440 hours in neutral salt spray outperformed existing technology in barrier performance equating to a C5 high rating for salt spray performance according to ISO12944-1.
The choice of coating system for pipelines is typically influenced by the geographical region and is often made between thick or thin film build. Critical requirements of coatings in either case are:
• Excellent adhesion
• Low permeability
• Resistance to cathodic disbondment
• High electrical resistance
Thin build coating systems are typically based on Fusion Bonded Epoxy (FBE) either single or double layer being the preferred approach in the North American market. Alternatives might also include high build epoxy or polyurethane. Typically such thin build systems utilise an active CP system to provide additional corrosion protection. Graphene modification as shown by Battochi(1) and by AGM(6) might easily be incorporated into such epoxy or polyurethane systems through the use of AGM’s dispersions. The known electrical conductivity of Graphene might give cause for concern if the incorporation changes the insulating characteristics of the film. The GNP modification demonstrated by AGM is however substantially below the percolation threshold required for conductivity and the net impact on epoxy conductivity is considered negligible (Figure 2).
Thick build coating systems used in other parts of the world are typically 3 layer polyolefin (3LPO and might be polyethylene or polypropylene). AGM has experience in master-batching Graphene into thermoplastics and as such there is no obstacle to the introduction of GNPs into of the main body of the coating. GNP might also be introduced into the adhesive copolymer layer applied to the FBE typically used as a base for the 3LPO coating system.