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Haydale Graphene signs distribution deal covering China and Taiwan

The parties have agreed on minimum annual revenue thresholds that start at US$300,000 for the calendar year 2021 and increase annually thereafter

Haydale Graphene Inds PLC -

Haydale Graphene Industries PLC (LON:HAYD), the global advanced materials group, shares leapt 20% higher on Tuesday following news the firm has signed an exclusive distributor agreement with Dalian Yibang Technology (DLYB).

The agreement is for an initial period of four years and allows DLYB exclusive distributor rights to market Haydale's electrically conductive graphene-enhanced master-batch in the Chinese and Taiwanese markets.

DLYB, which has been at the forefront of introducing and servicing high-end imported products for 15 years in China, will pay Haydale an initial licence fee and thereafter the parties will work towards completion of field testing, securing the requisite licences and final certifications from the relevant authorities.

Haydale will supply master-batch and associated consultancy services at an additional cost during the pre-commercialisation phase of the agreement.

The AIM-listed technology company expects the contract to move from the research & development stage to the commercial phase in 2021 and the parties have agreed on minimum annual revenue thresholds that start at US$300,000 for the calendar year 2021 and increase annually thereafter. In order to ensure the highest standards of quality assurance, the parties have agreed that all master-batch will be supplied by Haydale from its facilities.

"Having already introduced leading-edge technology to prevent lightning strike into the Chinese Aerospace and wind energy industries, we are delighted to be working with Haydale and its world-leading technology to introduce the next generation of environmentally friendly technology in this field,” said Yuefeng Zou, the chief executive officer (CEO) at DLYB.

Keith Broadbent, Haydale’s CEO, said the new contract would “open up fantastic opportunities for the commercialisation of this state of art technology in both China and Taiwan."

In morning trading, Haydale shares were 20.8% higher at 1.45p.

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Quick facts: Haydale Graphene Inds PLC

Price: 1.7 GBX

LSE:HAYD
Market: LSE
Market Cap: £5.78 m
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