Contract for underfloor heating pilot in Jersey

Haydale Graphene Industries PLC

02 September 2024

 

REACH

Haydale Graphene Industries plc

('Haydale', the 'Company', or the 'Group')

Contract for underfloor heating pilot in Jersey

First real-world installation of Haydale's underfloor own-product solution using graphene-based conductive inks

Innovative efficiency, flexibility and durability performance improvements

Haydale (AIM: HAYD), a leader in advanced materials and nanotechnology innovation, announces that it has signed a contract with Jersey Energy Technologies Limited ("JET"), a start-up company focussed on providing energy efficiency solutions across the Channel Islands, to begin a pilot trial deploying Haydale's innovative underfloor heaters within social housing in Jersey.

Haydale's underfloor heating system utilises the Company's proprietary HDPlas^TM functionalisation technology to unlock the high-level thermal conductivity properties of advanced material, graphene. Data gathered from Haydale's in-house prototype systems have shown up to 30% lower operating cost for their functionalised graphene ink underfloor heating compared to standard wired systems running off mains power. In test conditions, the heaters, which can be uniformly and individually heated, have also shown improvements in flexibility, and durability; reaching maximum temperatures quickly. This presents a potential commercial solution to meet the demand for improved energy efficiency, reducing heating costs for residents without trade off.

The first real-world installation of Haydale's product is planned to take place with JET later this year. The pilot trial will gather information over the winter period to support the efficacy and efficiency data already generated from Haydale's in-house testing with results expected in the new year.

Under the agreement, JET has agreed to pay for exclusive access to distribute the underfloor heating product within the Channel Islands on a commercial basis. If the trial is successful, it is envisaged that this environmentally friendly underfloor heating system will be rolled out in phases to selected homes and buildings.

Keith Broadbent, CEO of Haydale, said: "We are thrilled to collaborate with JET on this project which demonstrates our ability to use our plasma functionalisation technology platform to develop our own IP protected products for commercialisation, and this collaboration is a testament to our commitment to innovation and sustainability.

"Our underfloor heating system not only provides superior comfort but also represents a potentially significant step forward in reducing environmental impact and energy costs. This innovative solution leverages advanced technology to provide consistent, comfortable warmth, looking to ensure that each home remains cozy throughout the year without the excessive energy consumption typically associated with traditional heating systems."

George Eves, Founder of JET, said: "The adoption of Haydale's advanced underfloor heating technology aligns perfectly with our mission to provide high-quality, sustainable living solutions to the residents of the Channel Islands. We are excited to offer this cutting-edge heating solution and over time - we will look to roll the products out in the new build and retrofit projects underway with our development partner, improving the quality of life for our residents and setting a new standard for social housing."

For further information:

Haydale Graphene Industries plc	www.haydale.com
Keith Broadbent, CEO	Via Walbrook PR as below
Patrick Carter, CFO
Mark Bolt, Sales & Marketing Manager
Cavendish Capital Markets Limited (Nominated Adviser & Broker)		Tel: [phone]
Julian Blunt / Edward Whiley, Corporate Finance
Andrew Burdis, ECM
Walbrook PR (Media & Investor Relations)	Tel: [phone] or [e-mail]
Paul McManus / Joseph Walker	Mob: [phone]
Nick Rome / Louisa Ansell	Mob: [phone]

Notes to Editors:

About Haydale

Haydale is a global technologies group and service provider that facilitates the integration of graphene and other nanomaterials into the next generation of industrial materials and commercial technologies.  With expertise in graphene, other nanomaterials and Silicon Carbide, Haydale is able to deliver improvements in electrical, thermal and mechanical properties.  Haydale has been granted patents for its technologies in Europe, USA, Australia, Japan and China and operates from five sites in the UK, USA and the Far East.  For more information please visit: www.haydale.com or Twitter: @haydalegraphene

About JET

JET is a NewCo set up by Jersey based entrepreneurs to partner with the Island's network of support agencies helping improve the energy dependency situation. With a team of advisors, industry experts and housing installation teams, JET will oversee the roll out of the new innovation upon final testing and certification. JET is also partnering with other providers of innovative building products to assist the Island's drive towards energy independence. For more information please visit: jerseyenergytech.com

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions.  These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities.  Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company.  Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.  Accordingly, readers are cautioned not to place undue reliance on forward looking statements.  Subject to any continuing obligations under applicable law or any relevant AIM Rule requirements, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

 

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