Advanced materials company, First Graphene Limited (ASX: FGR) notified the market that it had been granted a Research and Development refund, with a total amount of $680,658. The refund amount was an outcome of the FGR’s activities on research and development in the fiscal year 2017/18. The proceeds of the R & D refund would supplement the FGR’s working capital, as it develops its graphene commercialisation strategies.
The company provides good quality, bulk graphene products. It has a strong manufacturing platform, which is based on the captive supply of high-purity raw materials, with a capacity of hundred tonnes per annum graphene production.
In September last year, the company released the PureGRAPH™ array of products, along with the Product Information sheet providing the details. The products are characterised through their low level of the defect and high aspect ratio. PureGRAPH™ graphene powders are available in a lateral platelet size of 20µm, 10µm etc.
Graphene is known as a natural material, which is a basic building block of graphite, attained when the thickness is decreased to lower than ten atoms. The material was discovered during the 1940’s, but it was not until 2004, that the scientists finally understood, how to separate it from graphite particles. From then onwards, there was a lot of interest shown in the material, since the research scientists had confirmed its suitability, for combining it with a wide array of materials to improve their performance.
Recently, FGR provided a link for an interview, which was held by the company’s Chairman, Mr Warwick Grigor with Mr David Tasker at TechInvest Magazine at the TechKnow Invest Roadshow.
The interview can be viewed at the following link: www.firstgraphene.com.au/media-articles/video-interview.
On 19 March 2019, the company provided sales and marketing updates to the market.
In its Investor Presentation report, the company mentioned the investment case; some of the points are as following:
- Solid consumer interactions to be improved by emphasising on B2B marketing, and a strengthened sales and distribution team.
- The continued investment is progressing, along with products and applications generating solid knowledge and intellectual property assets. Also, the continued involvement with universities and consumers had been driving testing and evaluation before the adoption of graphene raw materials.
FGR is working hand in hand with 3 renowned universities of Australia for advancing graphene products related to intellectual property. The three universities are: The University of Manchester, The University of Adelaide and Flinders University. The company has also partnered with the Institute for Nanoscale Science &Technology, Australian Government, Department of Industry, Innovation and Science, and Business-Cooperative Research Centres Programme.
The company’s half-yearly report ending 31 December 2018, recorded Net operating loss after tax for the half-year period at $2,169,793 (2017: $2,948,419). The company’s Cash at the end of the period stood at $3,205,848. The Net cash inflows from financing activities at the end of the period were noted at $1,297,032.
By the end of the trading session on 28 March 2019, the stock of the company stood at a price of A$0.175, up by 2.941% from its previous close. The company’s market capitalization stood at A$70.33 million, with circa 413.68 million shares outstanding.