Haydale Graphene Industries PLC (LON:HAYD) shares surged on Tuesday as the group launched a new range of materials to protect against lightning strikes.

The new composites, developed in collaboration with Airbus UK, BAE Systems and GE Aviation, are reinforced with carbon fibre and have improved electrical conductivity that can be used to protect structures as well as for enclosures housing electronic avionics systems.

READ: Haydale Graphene wins US$700,000 order for ceramic blanks

The material has potential applications for unmanned drones, commercial aircraft, space travel and offshore wind turbines which are susceptible to lightning strikes.

Haydale said the consortium of firms is now aiming to create a demonstrator component using the new material to work out how to optimise a commercial manufacturing process.

The company has also been working with its customers to test a masterbatch of the material for its capabilities compared to existing substances.

"We are pleased to have developed this much sought-after product and look forward to working with the aerospace industry to see it launched commercially. We have worked closely with design authorities/Airbus to ensure this product meets the needs and requirements of the industry", said Haydale’s chief executive Keith Broadbent.

In early trading, Haydale’s shares were up 13.2% at 1.5p.