Haydale is pleased to announce further progress in North America.

1. Service Agreement with InVentures Group, Inc.

2. Opening of new office

Service Agreement with Inventures Group, Inc

Haydale Technologies Inc (“Haydale Tech”), the US subsidiary of Haydale, has entered into a rolling one year service agreement with InVentures Group, Inc. (“InVentures”), (the “Service Agreement”).  Pursuant to the Service Agreement, being an extension of the previous consulting agreement entered into in July 2014, InVentures will provide Haydale Tech with financial, strategic and management planning advice to develop a centre of excellence and establish Haydale Tech as a leading provider of functionalised graphene and other nanomaterials to the North American market.

In return, Haydale will provide an initial HT60 reactor to the USA to enable the functionalisation of graphene and other nano materials on site. This reactor will provide sampling and low volume functionalised nano materials to the US market.

In consideration for the services to be provided by InVentures to Haydale Tech, Haydale will issue 100 new ordinary shares in Haydale Tech, representing approximately 11.1% of Haydale Tech’s enlarged issued share capital, to Inventures. Furthermore, InVentures has been granted an option to subscribe for up to 100 additional shares in Haydale Tech (the “Option”). The exercise of the Option is conditional upon InVentures reaching certain key business milestones in the twelve months to June 2016 including sales targets and providing agreed dedicated services to Haydale Tech. If the conditions are achieved and the Option exercised, Inventures would then own 20% of the resultant enlarged issued share capital of Haydale Tech.

Opening of New Office

The location of the new office and R&D facility, which we expect to open this month, is under evaluation and likely to be in New York State where there are economic incentives available, a supply of appropriate labour skills plus target customers in the composites, inks and energy harvesting markets.

Commenting, Ray Gibbs, Haydale Chief Executive said: “In our interim results statement we announced our intention to establish a centre of excellence in the United States and this is the next step in that process. We have been working with InVentures for almost a year now and having carefully researched the market I am confident that the opening of our US operation and our agreement with InVentures will see Haydale gain traction in North America.

Keith Blakely, Chairman and CEO of InVentures, added: “Having been in the nano materials market for 35 years, graphene is one of the most disruptive materials of our generation and I am excited to be able to bring Haydale’s novel and patented functionalisation process to the North American market. Its potential impact on a wide range of products, such as plastics, polymers, metals and even golf balls is astounding. Work to develop graphene-enhanced products in water treatment and smart cement, both very sizable markets, is already underway and we are excited about the possibilities.