Applied Graphene Materials - Cash runway extended well into calendar 2023
Applied Graphene Materials (AGM) has raised c £6.0m (gross) through a placing, subscription and PrimaryBid offer at 41p/share. Management estimates that the funds raised extend the company’s cash runway from October 2021 well into calendar 2023, enabling it to convert the current opportunity pipeline into meaningful annual revenues during the period.Applied Graphene Materials is engaged in the manufacture, dispersion and development of applications for graphene. Co.'s operations are primarily within the U.K. Co.'s core markets are in the Coating, Composites, and Functional Materials. Within coating sector, Co. focuses on the barrier, corrosion resistance and conductive properties. Potential applications range from protective paints for industrial facilities and transportation infrastructure to floorings. Within composites sector, Co.'s focuses in fracture toughness, stiffness and improvements to fatigue characteristics. Potential applications range from sports goods manufacturers, aero and defense to medical sectors.
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