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On Monday, Haydale Graphene (LSE:HAYD), a leading advanced materials company, announced a new contract with Jersey Energy Technologies (JET) to launch a pilot trial of its underfloor heating technology within social housing on the Channel Island. This agreement marks the initial real-world deployment of Haydale Graphene’s product, with the trial set to commence later in the fiscal year 2024.
The pilot will be conducted over the winter months and aims to gather data on the product's performance and efficiency, complementing the information already obtained from internal testing. Under the terms of the contract, JET will have exclusive rights to distribute the underfloor heating system within the Channel Islands on a commercial basis. Should the pilot trial prove successful, there is potential for a phased expansion of the system to additional homes and buildings.
Chief Executive Officer Keith Broadbent expressed enthusiasm about the collaboration with JET, highlighting it as an opportunity to showcase Haydale Graphene’s innovative capabilities. The project underscores the company’s ability to leverage its plasma functionalization technology to create proprietary products ready for commercialization. Broadbent emphasized that this partnership reflects Haydale Graphene’s commitment to advancing both innovation and sustainability.
At 0955 BST, shares of Haydale Graphene remained steady at 0.31p.
This pilot project is a significant development for Haydale Graphene, marking a transition from product development to practical application. The trial will provide valuable insights into the effectiveness of the underfloor heating technology in real-world conditions and could set the stage for broader adoption if successful. The exclusive distribution agreement with JET highlights the commercial potential of the technology and positions Haydale Graphene to enhance its presence in the renewable energy sector.
The partnership with JET also demonstrates Haydale Graphene’s strategic focus on delivering sustainable solutions. By implementing its underfloor heating system in social housing, the company aims to contribute to energy efficiency and environmental sustainability. The outcomes of this trial will be closely monitored, as they could pave the way for further projects and expansion opportunities within the Channel Islands and potentially other regions.
