Haydale Graphene Industries PLC (LON:HAYD) has received £1.5mln in a third tranche of funds from Chinese firm Everpower.
A further balance of £1.4mln is anticipated in the near future with the delay believed to be possibly due to foreign exchange controls said broker Cantor Fitzgerald.
Everpower and Haydale have a collaboration agreement to manufacture, supply and market existing Haydale products as well as to develop nanomaterials and new graphene products for the Chinese market.
The initial focus will be on the development, manufacture and marketing of conductive inks, for medical devices and other electronic applications, pressure sensors, wind turbine radial donuts and PLA 3D printing filaments.
Cantor retained its 230p target price.