12th Jun 2025 19:49
Haydale Graphene Industries PLC - Carmarthenshire, Wales-based developer of materials using graphene and other nanomaterials - provides trading update highlighting the recent commercial progress of its JustHeat product line: a low-power, graphene-based heating system. Says the product has now received UL certification, a critical regulatory milestone that enables the commercial sale of the JustHeat system in the US and Canada. In the UK, notes "strong demand" for JustHeat from social landlords. To date, Haydale says it has secured commitments for over 40 pilot installations across Welsh housing providers. In addition, signs a strategic UK wide non-exclusive distribution agreement with Quidos Protect Ltd, a national installer network comprised of more than 250 qualified heating engineers. This agreement will provide Haydale with full UK-wide delivery coverage. Haydale explains this model provides strong margins without the capital intensity or complexity of needing to build an in-house installation capability. Haydale is encouraged that JustHeat is already generating revenue as all pilot programmes are paid for. In addition, the firm says it remains on track to reduce monthly run-rate costs to around GBP200,000 by the end of financial 2025, down 70% year-on-year.
Current stock price: 0.23 pence, closed up 26% in London on Thursday
12-month change: down 41%
By Jeremy Cutler, Alliance News reporter
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