Applied Graphene Materials — New range of industrial anti-corrosion primers

Applied Graphene Materials (AIM: AGM)

Last close As at 28/03/2024

5.25

0.00 (0.00%)

Market capitalisation

GBP4m

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Research: TMT

Applied Graphene Materials — New range of industrial anti-corrosion primers

Applied Graphene Materials (AGM) has introduced a range of industrial anti-corrosion primers based on its own well-established Genable branded dispersions of graphene nanoplatelets. The two new primers present a complementary route to market that management expects will accelerate adoption of its products in the protective coatings space. The primers are being trialled by the UK Environment Agency on structures exposed to harsh conditions.

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TMT

Applied Graphene Materials

New range of industrial anti-corrosion primers

Product launch

Tech hardware & equipment

6 January 2022

Price

22p

Market cap

£14m

Net cash (£m) at end July 2021 excluding finance leases

6.3

Shares in issue

64.3m

Free float

90.8%

Code

AGM

Primary exchange

AIM

Secondary exchange

OTCQX

Share price performance

Business description

Applied Graphene Materials develops graphene dispersions that are used by customers to enhance the properties of coatings, composites and functional materials. It also manufactures high-purity graphene nanoplatelets using readily available raw materials instead of graphite.

Analyst

Anne Margaret Crow

+44 (0)20 3077 5700

Applied Graphene Materials is a research client of Edison Investment Research Limited

Applied Graphene Materials (AGM) has introduced a range of industrial anti-corrosion primers based on its own well-established Genable branded dispersions of graphene nanoplatelets. The two new primers present a complementary route to market that management expects will accelerate adoption of its products in the protective coatings space. The primers are being trialled by the UK Environment Agency on structures exposed to harsh conditions.

Year end

Revenue (£m)

EBITDA

(£m)

PBT*
(£m)

EPS*
(p)

DPS
(p)

P/E
(x)

07/18

0.1

(4.0)

(4.2)

(7.5)

0.0

N/A

07/19

0.1

(4.6)

(4.8)

(7.9)

0.0

N/A

07/20

0.1

(3.1)

(3.5)

(6.1)

0.0

N/A

07/21

0.1

(3.2)

(3.6)

(6.3)

0.0

N/A

Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.

Graphene nanoplatelets provide highly effective barrier and anti-corrosion properties in paints and coatings at extremely low loading levels. AGM has incorporated its proprietary graphene nanoplatelets in two new prototype paint systems. The Genable Epoxy primer combines graphene with a zinc phosphate additive and is suitable for use in standard applications such as urban and industrial environments. The Genable CX primer combines graphene and aluminium chemistries to create a high-performance system offering anti-corrosion protection for harsh environments such as offshore and marine applications.

These product introductions are a significant step for AGM because until now the company’s route to market has been primarily through the sale of dispersions of graphene nanoplatelets to paint and coatings manufacturers such as James Briggs. These manufacturers use the Genable branded dispersions to enhance the properties of their paints and coatings which they sell to end-users. The two new primers present a complementary route to market that enables end-users considering the adoption of graphene to test and evaluate its potential benefits quickly by applying a ready-made formulation from AGM itself. Management expects that these new Genable primers will accelerate adoption of its products in the protective coatings space.

AGM is working closely with the UK Environment Agency which is currently trialling AGM’s graphene-based primers on sample structures forming part of an extensive network of sea defences. If the trials are successful, AGM hopes that the Environment Agency will deploy the primers more widely to protect its extensive portfolio of assets.

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Frankfurt +49 (0)69 78 8076 960

Schumannstrasse 34b

60325 Frankfurt

Germany

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United Kingdom

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United States of America

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