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Haydale Graphene Industries PLC: THE INVESTMENT CASE

Haydale Graphene Industries upbeat over graphene and other composites

Haydale has been investing heavily in its Taiwanese operation following October’s £9.3mln fundraise
Ray Gibbs
Blood glucose a big potential market says Ray Gibbs

After much groundwork laying, Haydale Graphene Industries PLC’s (LON:HAYD) Ray Gibbs is optimistic.

“The next six to twelve months should be an exciting time for the group, which we believe now has the customer engagement, geographic reach, engineering solutions capability and product know-how to create material change in the group's future revenues," said the chief executive.

WATCH: Haydale targeting Japan’s electronic printed inks market

Revenues rose by two-thirds in the six months to December to £2.49mln with commercial/non-grant income 85% higher at £2.04mln.

Losses for the half year to December were up slightly at £2.74mln (£2.62mln).

Gibbs said Haydale had been investing heavily in its Taiwanese operation following October’s £9.3mln fundraise, formulating ink samples to potential customers' specifications for the US$15bn self-monitoring blood glucose market.  

“We are hopeful of securing several meaningful orders and supply agreements from this key strategic market and plan to move to a 10,000 sq ft facility by the end of this financial year,” he added.

Haydale recently split its operations into two distinct divisions: Advance Materials and Resins, Polymers and Composites.

Since the half year, Advanced Materials has picked orders worth £500,000 and agreed to collaborate with Japanese group Graphene Platform to target Asia’s printed electronics market.

RPC, meanwhile, has won grant–funded contracts worth £600,000 and completed a second trial of its graphene-enhanced gas pipe for Flowtite. Results of this trial are expected by the end of June.

Cash was £8mln at the period end.

Tipping point

Ed Stacey, an analyst at the research firm Capital Network, also reckons Haydale and its technology base have reached a “tipping point”.

“The nano-materials market is transitioning from a concept technology to commercial applications [and] Haydale specialises in the integration of nano-materials into commercial and industrial technologies,” explains Stacey.

“We argue that this is a good position to occupy within the value chain – exposed to end market growth but not exposed (negatively) to the likely future price compression in raw graphene or other nano-materials.”

At 114p, Haydale is currently valued at just over £32mln.

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Haydale Graphene Industries PLC Timeline

September 11 2018
September 05 2018

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