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Date Announced: 19 Mar 2015
Haydale Ltd., a leader in the development of enhanced graphene and nanoparticulate materials, has announced its unaudited results for the six months ending 31 December 2014. Haydale’s HDPlas® plasma technology provides a rapid and highly cost-efficient method of supplying tailored solutions for both raw material suppliers and product manufacturers.
During the period the company significantly increased total income, acquired EPL Composite Solutions Ltd who design, develop, and commercialise advanced composite polymer materials and continued investment in production capacity.
Commenting on the results Ray Gibbs, CEO of Haydale, said: “Haydale continues to carry out the strategic aims as set out in our 2014 annual report as we begin to exploit the commercial and technical momentum started in the second half of the previous financial year. The period under review has been dominated by a number of significant events; most importantly the acquisition of EPL in early November 2014 which provides the Group with direct access to the early adopting, substantial and innovative composite market, already worth in excess of £10 billion per annum globally.
The commercial agreements reached with agents in both the USA and Far East have already started to show excellent progress following sustained product sampling in the period. To ensure we can satisfy predicted demand, we have procured a suite of new second generation plasma reactors that have been commissioned and are producing outstanding results. The build quality, engineering and subsequent performance from these second-generation reactors are significant improvements on our original units. The remainder of the year will see our efforts focused on generating commercial revenues and the commissioning of our latest large scale HD200 reactor."
Operational Highlights
* Acquisition of EPL Composite Solutions Limited (“EPL”) who design, develop, and commercialise advanced composite polymer materials. EPL offers the Group an immediate access to the growing composite market for graphene;
* Innovative commercial agreement with the Welsh Centre for Printing and Coating (“WCPC”) for the development and commercialisation of electronic ink;
* Established marketing and distribution partners with commercial agents in USA and Far East plus specialist web based supplier Goodfellow;
* Successful factory acceptance test and commissioning of new second generation plasma reactor offering greater control, precision, processing flexibility and improved performance.
Post Period End Events
* Delivery of two more R&D plasma reactors and a larger capacity technology demonstrator (HD200);
* EPL awarded £261,000 Regional Growth Fund (“RGF”) grant;
* Exclusive 5-year commercial agreement with Swansea University to acquire their internally funded research projects which produce prototype applications using a range of Haydale materials, the first of which is a flexible, large area, intelligent pressure sensor.
* Commercial collaboration with Alex Thomson Racing to develop graphene enabled composite solutions for their current and future designed Hugo Boss sponsored extreme racing boat.
Financial Summary
* Total Income (comprising revenue and other income) increased significantly to £0.48 million (1H 2013/14: £0.06 million);
* Like for like Total Income (before Income from EPL) doubled to £0.12 million;
* Loss per share in the period of 14p (1H 2013/14: 9p per share);
* Capital expenditure of £0.6 million on plant and machinery to increase capacity (1H 2013/14: £0.02 million);
* Cash balance at period end of £4.0 million (30 June 2014: £5.7 million).
For further information relating to this report please contact Haydale Ltd. on +44-1269-842946
E-mail: info@haydale.com
Web Site: www.haydale.com
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