Haydale Graphene Industries PLC (LON:HAYD) has made what it said is a crucial step in its Asian expansion with the acquisition of Thailand–based ink and composites group Innophene.
Ray Gibbs, Haydale’s chief executive, said the deal was a strategic move to ensure it had rapid response and application engineering support in the Far East.
Haydale has already started trialling Innophene’s products, which include a range of graphene-enhanced transparent conductive inks and a newly developed PLA (Poly-Lactic Acid) resin for 3D printing that allows the addition of colour.
It is launching its own 3D printing material next month.
Innophene’s graphene inks can be printed on a range of materials and will enable Haydale to target high value applications for the carbon-based organic and printed electronic market.
Innophene was set up in 2011 in conjunction with the Thailand National Science & Technology Development Agency.
The acquisition will cost £311,000, to be met by new shares issued to Innophene’s owners.
"We have been working with the Innophene team for over nine months, where they have carried out a number of projects for us,” said Gibbs.
“The analytical and application development facilities that they have access to on the Thailand Science Park is substantial and we have been impressed with the quality and speed of their response. “
Trading in the year to June had been encouraging and in line with market expectations, he added.