- First Graphene (FGR) signs a distribution agreement with Nanoproof Glade Chemicals Joint Venture to expand the sales reach of PureGRAPH graphene
- It is expected to target multiple markets across South Africa, with a particular focus on the concrete segment
- The agreement has a term of four years with a minimum commitment of five tonnes of PureGRAPH AQUA and powder products within the first year to maintain exclusivity
- The estimated sales value in the first year is expected to reach between $250,000 and $285,000
- Shares were trading 6.06 per cent higher today at 17.5 cents each
First Graphene (FGR) has signed a distribution agreement with Nanoproof Glade Chemicals Joint Venture to expand the sales reach of PureGRAPH graphene.
It is expected to target multiple markets across South Africa, with a particular focus on the concrete segment.
The agreement has a term of four years with a minimum commitment of five tonnes of PureGRAPH AQUA and powder products within the first year to maintain exclusivity.
The estimated sales value in the first year is expected to reach between $250,000 and $285,000.
The Nanoproof Glade Chemicals Joint Venture specialises in nanotechnology solutions for concrete, grouts and mortars for the construction materials industry.
The agreement follows a previous collaboration between the companies to develop the range of PureGRAPH products.
The products can be used for concrete mix design, which increases strength and durability while lowering the carbon footprint of the concrete produced.
First Graphene Chief Executive Officer Michael Bell said this was a significant step for the company to become the world’s leading supplier of graphene-enhanced cement and concrete solutions.
“Nanoproof Glade Chemicals JV was quick to develop a range of admixture solutions and with its significant penetration into multiple South African market segments, will help expand our reach into the market in that part of the world,” he said.
“At the same time, First Graphene now has access to a range of admixture products that can help us pursue additional commercial opportunities in the high-value cement and concrete segments.”
First Graphene shares were trading 6.06 per cent higher at 17.5 cents each at 11:01 am AEDT.