Shares in Graphene NanoChem plc (LON:GRPH) surged higher on Tuesday Morning after the nanotechnology specialist’s new polymers division successfully completed a paid pilot project for a global Tier 1 company in Malaysia.
The project saw Graphene provide its enhanced building materials solution as part of a warehouse conversion and building modification assignment for the customer.
Graphene added that the pilot was also a “major breakthrough” because its polymers and enhanced building materials solutions have now been used in the highly-regulated aerospace industry, which is a “further testament to its quality and strength”.
Chief executive Jespal Deol said: “Although small, a first contract win for a new division is always something to be proud about and I would like to thank everyone involved for their hard work in securing this landmark project.
“These are exciting times for the group and we are pleased our revolutionary building materials have been welcomed by the market, praised for its strength, quality, and flexibility while meeting price points set by customers.
“We are confident in our ability to build on this progress and generate further contracts in the future.”
Shares rose 8% to 5p.
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