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- First Graphene (FGR) will supply materials to planarTECH for the manufacture of personal protective equipment (PPE)
- Graphene has anti-static and bacteria-resistant qualities, which make it an ideal material for PPE
- While the initial term of the contract is for 24 months, this can be extended by a further 48 months should planarTECH continue to be satisfied with FGR’s product
- Both companies are expecting to further collaborate in coming months to broaden the range of PPE products they offer with the novel graphene tech incorporated into the design
- First Graphene is up 11.5 per cent to 14.5 cents per share
Advanced materials company First Graphene (FGR) has entered into a two-year supply agreement with planarTECH to supply materials for the manufacture of personal protective equipment (PPE).
The requirements of an initial testing phase have been met and planarTECH will now incorporate First Graphene’s materials into the manufacture of protective masks.
Why graphene?
Graphene has anti-static and bacteria-resistant qualities, which make it an ideal material for use in PPE.
Accordingly, planarTECH’s face masks will use a proprietary graphene coating to ensure their safety and efficacy, with First Graphene’s product so far proving an ideal candidate.
Both companies are expecting to further collaborate in coming months to broaden the range of PPE products they offer with the novel graphene tech incorporated into the design.
First Graphene Managing Director Craig McGuckin says the new deal is potentially just the beginning.
“planarTECH have moved very quickly to test and commercialise their new range of graphene face masks and we are pleased to support the growth of this product,” Craig said.
“Further opportunities exist in the development of planarTECH’s other PPE equipment,” he added.
Key terms
While the initial term of the contract is for 24 months, this can be extended by a further 48 months should planarTECH continue to be satisfied with FGR’s product.
It’s expected FGR will supply around one tonne of its PureGRAPH10 product each year, with the deal to be non-exclusive for the whole world except Thailand, where planarTECH has sole rights over the product.
Either party may terminate the agreement at any time should the other company breach its obligations.
planarTECH Chairman Ray Gibbs says the company has been impressed with the FGR collaboration so far.
“We needed to secure a robust graphene supply to ensure we met the known market demand. We have been impressed with the speed of response and high quality, consistent product from First Graphene which is crucial in urgently supplying this much-needed product across the world,” Ray said.
It’s currently unknown what the deal might mean to FGR’s bottom line, but with sustained global need for reliable, high-quality PPE it could be a fruitful partnership.
First Graphene is up 11.5 per cent to 14.5 cents per share as at 11:40 am AEST.
