First Graphene Ltd (ASX:FGR, OTCQB:FGPHF) expanded its international commercial footprint during the June 2026 quarter, securing immediate revenue from newly acquired US assets and opening a potentially substantial route into China’s cement and concrete market.
The advanced materials company completed three strategic asset acquisitions during the period, received its first orders from customers previously supplied by MITO Materials Inc and signed an agreement targeting PureGRAPH® CEM sales of up to 500 tonnes in China.
First Graphene also reported combined quarterly income of about A$135,000, comprising around A$103,000 in graphene sales and A$32,000 from development and grant-funded programs.
For the full financial year, the company expects revenue to increase by 13%, while annual operating cash burn declined by 12% to approximately A$2.39 million.
US acquisition delivers immediate revenue
A central feature of the quarter was First Graphene’s acquisition of assets from US-based MITO Materials, which provided access to established customers, manufacturing opportunities and four product lines serving the luxury sporting equipment market.
The company has already received its first purchase orders from Parlor Skis and Le Croix fishing rods, indicating that customers intend to continue commercial relationships previously established under the MITO brand.
Former MITO chief executive Haley Marie Keith has joined First Graphene as vice president of business development and will lead efforts to increase product awareness and pursue commercial opportunities across the United States.
The acquisition forms part of First Graphene’s broader strategy to target high-value markets where acquired technologies and customer relationships can accelerate the commercial adoption of graphene-enhanced materials.
It also strengthens the company’s position in the US defence and aerospace sectors, where lightweight, durable and high-performance composite materials represent a potential market for PureGRAPH® products.
First Graphene has submitted an application to the US Defense Advanced Research Projects Agency to supply graphene products for defence-related aerospace composite projects.
The company's new US presence, combined with Keith’s local industry experience, provided an improved platform from which to pursue opportunities in the country’s large defence market.
Following the opening of its own commercial channels in the US through the MITO acquisition, First Graphene has ceased its previous distribution arrangements with NeoGraf.
Geotextile assets open new industrial markets
First Graphene also completed the acquisition of assets from Australian materials businesses Ionic Industries Inc and Imagine Intelligent Materials during the quarter.
The transaction provides a direct pathway into the geotextiles market, with potential applications across mining, agriculture, waste management and construction.
Geotextiles are used in applications including separation, filtration, reinforcement, protection and drainage, creating opportunities for graphene-enhanced coatings and materials designed to improve durability or performance.
During the first 90 days following completion, First Graphene intends to focus on relocating and establishing Ionic’s coating line and assessing associated manufacturing opportunities.
The acquired assets are aligned with the company’s existing coatings strategy and could support the development of new commercial products for infrastructure and industrial customers.
Together, the MITO, Ionic and Imagine Intelligent Materials transactions represent a deliberate expansion beyond First Graphene’s established graphene manufacturing operations into downstream products, customer relationships and application-specific technologies.
China agreement targets world’s largest cement market
First Graphene reached what it described as a significant commercial milestone by signing a memorandum of understanding with Sixth Element Material Technology to distribute PureGRAPH® CEM in China.
The agreement gives the company a route into the world’s largest cement and concrete market, which produces more than 2.3 billion tonnes annually.
Under the proposed pathway, sales of PureGRAPH® CEM would be increased to 500 tonnes. Reaching that level could trigger the establishment of a local manufacturing plant through either a joint venture or licensing agreement.
First Graphene described the Sixth Element agreement as the largest commercial opportunity in the company’s history, providing potential access to a cement and concrete market valued at more than US$50 billion.
The company’s proposition is based on the ability of PureGRAPH® CEM to reduce the volume of cement required in concrete products while maintaining strength and performance.
This could be particularly relevant in China, where cement production accounts for a substantial share of national carbon emissions and the construction industry is under pressure to reduce its environmental impact.
The agreement follows commercial-scale work completed in the United Kingdom with FP McCann, the country’s largest precast concrete manufacturer and supplier.
More than 10,000 graphene-enhanced roof tiles were produced during a five-month project using 40 tonnes of PureGRAPH®-enhanced cement supplied by First Graphene partner Breedon Group.
The project achieved a cradle-to-gate carbon emissions reduction of up to 14%, while reducing the amount of cement needed by as much as 8% without compromising product strength or performance.
First Graphene believes these results demonstrate that graphene-enhanced cement can provide a commercially practical lower-emission option for the construction industry.
The successful UK program has also generated interest from other international markets examining the potential use of the company’s PureGRAPH® product range.
Distribution agreement expands regional reach
First Graphene strengthened its Australian and New Zealand sales network during the quarter by updating its long-standing distribution agreement with Bisley.
The revised agreement gives Bisley broader exclusive access to PureGRAPH® products for the cement and concrete markets across both countries.
Bisley’s market development activities have already helped introduce First Graphene’s products into construction materials, coatings, lubricants, oil and gas drilling and cementing, composites, rubber and plastics.
The partnership is also examining emerging applications in paper manufacturing.
Bisley has worked with government research organisations and universities on graphene-enabled defence technologies and next-generation advanced materials, providing another potential channel into higher-value applications.
As part of the expanded agreement, the companies will collaborate on the technical development, market introduction and commercial rollout of a new range of graphene liquid additives.
These products are undergoing market evaluation and customer trials, with a commercial launch planned for the second half of calendar 2026.
Bisley will also distribute additional graphene and graphene oxide technologies acquired through the MITO and Ionic transactions.
Financial position supports commercial rollout
First Graphene recorded customer receipts of A$109,000 during the June quarter and used A$734,000 in operating activities.
Investing cash outflow totalled A$363,000, primarily reflecting A$351,000 allocated to other non-current assets, while financing activities used A$46,000.
The company ended the period with A$2.87 million in cash and cash equivalents, compared with A$4.01 million at the beginning of the quarter.
Based on its June-quarter operating expenditure, First Graphene estimated it had funding available for 3.9 quarters of operations.
The company had no loan facilities, credit standby arrangements or other financing facilities drawn at the end of the period.
Next steps
First Graphene’s immediate priorities include integrating its newly acquired US and Australian assets, relocating and commissioning Ionic’s coating line and converting inherited customer relationships into recurring revenue.
The company will also work with Sixth Element to build PureGRAPH® CEM sales in China toward the 500-tonne threshold that could support local manufacturing through a joint venture or licensing structure.
In Australia and New Zealand, First Graphene and Bisley are preparing for the planned second-half 2026 commercial release of the company’s new graphene liquid additive portfolio.
Further opportunities may emerge from the DARPA application and the company’s broader push into defence and aerospace composites, supported by its expanded US presence and acquired product capabilities.
About First Graphene
First Graphene is an advanced materials company focused on the development and commercial supply of graphitic materials and product formulations.
Its principal target markets include cement and concrete, composites and plastics, coatings, adhesives, sealants and elastomers, and energy storage.
The company’s PureGRAPH® graphene products are designed to enhance material performance and potentially reduce emissions through lower material usage, reduced manufacturing energy requirements or longer product life.
First Graphene operates its primary manufacturing facility at Henderson, Western Australia, and maintains a UK presence through First Graphene UK Ltd in Manchester’s innovation district.