- First purchase order secured for graphene-enhanced athletic and leisure footwear
- US-based customer becomes the third footwear client in growing global portfolio
- Purchase order marks first commercial production application in global sports shoe market
- Global sports shoe market valued at more than US$150 billion
First Graphene (ASX: FGR) has secured its first purchase order from US-based footwear company Flux Footwear featuring its graphene enhanced technology.
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Flux Footwear will incorporate the company’s trademarked PureGRAPH technology into its athletic and leisure footwear range, delivering enhancements to the brand’s Graphene XT performance gym shoes.
MD and CEO, Michael Bell, said the purchase order will be the company’s first production application within the sporting and athletic footwear sector, building on previously announced success in the work and safety footwear industry.
“The first production order for Flux Footwear represents another important commercial milestone for First Graphene, delivering a new revenue stream while reinforcing the company’s growing market presence built through years of strategic partnerships and product development,” Mr Bell said.
“This commercial agreement with a globally renowned company will provide potential pathways to recurring PureGRAPH® production demand while also further expanding our presence in the US.
“Our collaboration with Flux also reflects the overarching rising global demand for more durable, high- performing footwear, as consumers and manufacturers increasingly prioritise longevity, performance and sustainability.”
Mr Bell said following recent development work, PureGRAPH was selected for use across Flux’s graphene-enhanced footwear range and will progressively replace existing graphene models as production requirements increase.
Graphene is used in high-wear areas of the outsole to enhance durability, abrasion and tear resistance, grip and flexibility without unnecessary additional weight. PureGRAPH’s proven performance benefits will ensure the quality of Flux’s footwear range is maintained.
Flux has a well-established global customer base, delivering graphene-enhanced footwear primarily into the US market.
The first production order with First Graphene will establish a pathway for penetration into these markets through ongoing PureGRAPH supply as Flux progresses production of its graphene- enhanced footwear.
The production order with Flux builds on First Graphene’s established technical and commercial experience in the footwear segment.
The company has previously progressed PureGRAPH through development, independent testing and commercial production in work and safety footwear, including collaborations with Australian safety footwear manufacturer Steel Blue and Indonesian mining work boot manufacturer PT Alasmas Berkat Utama.
Mr Bell said the Flux order represents the next evolution of this established application, extending First Graphene’s formulation knowledge and commercial experience from industrial and safety footwear into the substantially larger sporting, athletic and leisure footwear segment.
FGR was up 1.89% to 5.4¢. Mkt cap $47.00M.
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