Applied Graphene inks distribution deal with Taiwan's Rayoung

Applied Graphene Materials has signed an exclusive distribution agreement with Taiwan-based Rayoung Chemtech, it announced on Tuesday.

The AIM-traded firm said the partnership would extend its commercial reach directly into the region's liquid resins, coatings, composites and polymers sectors.

It said the distribution agreement would see the two companies collaborate on customer opportunities, and introduce AGM's proprietary ‘Genable’ graphene dispersion technology into the Taiwanese coatings and composites market.

In addition to its own commercial hubs in the UK and the United States, AGM said it now had distribution agreements with local expert chemicals and coatings distributors in a “growing number” of export markets.

As a result, the company said it now had “excellent” regional coverage.

“I am really pleased to welcome Rayoung Chemtech to the commercial team, in line with our strategy to continue expanding our distributor footprint,” said chief executive officer Adrian Potts.

“We believe that the key to graphene's continued commercialisation is to combine innovative materials technology with a local customer approach that presents the practical advantages of use and the true potential of graphene dispersions in their applications.

“We look forward to working with the highly motivated team at Rayoung Chemtech to take advantage of the many opportunities in the Taiwanese market.”

At 1320 GMT, shares in Applied Graphene Materials were up 8.33% at 22.75p.