17th Jul 2014 11:56
LONDON (Alliance News) - Haydale Graphene Industries PLC Thursday said it entered a consulting agreement with the New York-based InVentures Group to speed up the commercial application of its plasma functionalisation technology in graphene, carbon nanotubes and other high performance nanomaterial systems.
The graphene and other nano materials technology development company said it will pay a retainer over an initial 12-month period, during which InVentures will promote Haydale's technology to potential research and development customers and commercial partners in its target markets of inks and coatings, composites and energy harvesting.
The company said InVentures will also identify and prioritise areas of application for Haydale's technology and seek to engage with high profile organisations as potential strategic partners, customers and/or licensees.
Haydale said a warrant agreement has now been signed, allowing Inventures up to 60,000 warrants to subscribe for ordinary shares in the company at an exercise price of 160 pence per share, subject to certain vesting conditions related to revenues generated by InVentures for the company.
"This agreement will enable Haydale to increase significantly its market presence in North America and Canada. We expect this agreement to allow a greater number of potential R&D customers to test and analyse our plasma functionalised materials for integration into their specific products and applications," Chief Executive Officer Ray Gibbs said in a statement.
Haydale shares were up 0.8% to 127.55 pence on Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Haydale