Applied Graphene Materials PLC (AIM:AGM, OTCQX:APGMF) (AGM) signed an exclusive distribution agreement with Imkemex, a Mumbai-based company, to extend its commercial reach into India.
The deal with the independent provider of distribution services for overseas chemical companies will expand AGM’s breadth to the region's liquid resins, coatings, composites and polymers sectors, it said in a statement.
This agreement will see the producer of specialty graphene nanoplatelet dispersions and Imkemex collaborate on local opportunities for the application of AGM's proprietary ‘G enable’ graphene dispersion technology and facilitate wider engagement with customers within the Indian market.
Adrian Potts, AGM chief executive, commented: “AGM is committed to enabling the widespread application of graphene dispersions and offering competitive advantages to its partners through the development of innovative graphene-enhanced products.
“At this stage of AGM's commercialisation, the appointment of Imkemex as our regional distributor in a key strategic market is a significant step towards achieving further adoption of our dispersed graphene nanoplatelets globally."
The company has commercial activity in the UK and US, as well as several distribution agreements with local expert chemicals and coatings distributors in many export markets, AGM added.
In early Tuesday trade, its shares rose 5.3% to 17.9p on the news.