First Graphene (ASX:FGR) has secured two new distribution agreements targeting new Asian markets, and progressed the company’s pipeline of future opportunities to distribute PureGRAPH to new and emerging global markets.
The company has signed two new distribution agreements covering the coatings, composites, and construction materials segments across Vietnam and China. These new agreements take the company’s total distribution network to eight groups across seven markets.
Entrance to these markets will enable First Graphene to deliver conductivity, barrier and mechanical benefits through its PureGRAPH products to a variety of different materials including textiles, coatings, composites and polymers.
Distribution through China will ensure First Graphene has representation throughout the largest manufacturing country in the world and will deliver pristine graphene to meet growing market demand in the nation. China delivers approximately 30% of the world’s manufacturing output, equating to nearly US$5 trillion in value to the global econom1.
The agreement in Vietnam will provide access to the fourth largest manufacturer in Asia, with the nation driving over US$100 billion in global manufacturing output in 2023.
These new agreements are complemented by ongoing initiatives and engagement stemming from the company’s existing distributor network, which is focused on European, US, UK and Australian markets.
Distribution partners in Europe and Australia have reported recent increased interest from customers across a range of segments including coatings, adhesives, resin, inks, composites and thermosets.
First Graphene’s recently optimised material grade and improved treatment process has supported this stronger market traction, enabling PureGRAPH products to be used in new applications, and resulting in a marketed improvement in performance in existing applications.
Feedback received from customers via the company’s distribution network has reinforced the value of these enhancements and resulted in further scaled trials of graphene enhanced applications.
Further, First Graphene’s pipeline of commercial prospects for 2025 has also advanced pleasingly, with the first of a series of opportunities entering the ‘product ordering’ phase.
First Graphene is set to provide PureGRAPH to a customer located in Brazil for textiles application, which will further validate the product’s thermal and performance enhancing properties in this segment.
This represents a strong step forward in the company’s strategic commercial pathway and marks the first of multiple opportunities which are expected to materialise over the next 6 to 18 months.
“We have seen extensive progress on multiple commercial fronts recently, including entry into two globally significant markets through new distribution partners in Vietnam and China,” Managing Director and CEO, Michael Bell, said.
“With our ongoing engagement across Europe and Australia also tracking well, the Company is very well placed for significant growth over the coming months.
“We are also very pleased to have progressed a new opportunity in the textiles market, which is now in volume production and the reoccurring ordering phase.
“This is the first opportunity converted in the textiles space and will help demonstrate the application and potential advantages of PureGRAPH in a broader range of applications.
“I look forward to providing further updates as we advance our commercialisation strategy, targeting high-growth, high-margin and in-demand industries.”
