Applied Graphene Materials looks to £10 mln AIM float

Manufacturer Applied Graphene Materials is planning a spin-out from FTSE 250 IP Group that will reportedly net the business around £10mln.

The AIM listing, which is expected to value the high-tech firm at around £25mln, will allow it to increase production and accelerate commercial opportunities with blue chip partners.

It will be one of two companies set to join the market whose technology is based on work by researchers at Durham University. The other is Kromek, an Amphion Innovations partner company.

The work of Nobel Prize winning physicists Andre Geim and Konstantin Novoselov showed that graphene, a one molecule thick layer of graphite, has huge potential.

It is incredibly strong (a layer of it no thicker than cling film could support an elephant) as well as being a marvellous conductor of heat and electricity.

Such is its potential that companies such as Samsung and Nokia are considering graphene as a replacement for the traditional silicon based technology.

The difficulty is producing graphene cost efficiently and at scale.

Applied Graphene Materials reckons it has solved this problem and can produce one tonne of graphene per year from its plant on Teesside.

Chief executive Jon Mabbitt said: “Applied Graphene Materials’ planned admission to AIM marks a significant step forward in the company’s development.

“The global appetite for, and interest in, graphene is growing at a rapid pace.

“Many industries have recognised the significant qualities it possesses.

“We have seen considerable interest from blue-chip businesses which have recognised the advantages of our production process, enabling us to continuously produce graphene cost efficiently on a commercial scale.

“Admission to AIM will provide the company with the funding for its next phase of development and build our position as a global graphene manufacturer.”

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