Applied Graphene Materials PLC - graphene materials maker with headquarters in Redcar, Cleveland, England - Signs a supply agreement with an unnamed global leader in the car detailing industry for an exclusively developed graphene-based solution, for an undisclosed sum. Says the contract with the household name brand represents a huge milestone for Applied Graphene in the car care sector.
Chief Executive Officer Adrian Potts says: "Innovative manufacturers in this fast-moving market are looking to exploit the differentiation that graphene can offer, so we have seen growing interest in its use for in cleaning and coating products to protect surfaces and improve vehicle aesthetics."
Says the car care brand will use Applied Graphene's Genable graphene nanoplatelet dispersion technology in the production of its auto detailing products. This has the potential to significantly improve the "barrier performance of waxes, polishes and finishing sprays for vehicles", Applied Graphene adds.
Current stock price: 15.75 pence, up 1.6%
12-month change: down 47%
By Xindi Wei; xindiwei@alliancenews.com
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