FGR Signs MoU with Engine Marine for Commercialisation of High-Quality Graphene Production

KEY TAKEAWAYS:

• First Graphene, the producer of high-quality graphene that sources vein graphite from Sri Lanka, announced on 9 May 2018 that it had signed a MoU with Engage Marine, a company that enjoys a prominent presence throughout Australia.
• Much of the MoU covers the qualitative aspects of products expected from First Graphene so that they could be effectively sprayed on doors and engine rooms of sea-faring vessels.
• Both entities are likely to benefit from this partnership, wherein First Graphene can commercialize the production of high-quality graphene and Engage Marine would experience improvement in functionality of marine operations.

First Graphene (ASX: FGR), producer of high-quality graphene, announced on 9 May, 2018 that it had signed a Memorandum of Understanding with a well-known entity in the marine segment, namely Engage Marine. The aim of the project is to develop graphene-based products for the marine industry in form of ropes, coatings and so on. One of the terms
of the MoU insists on fortifying the existent coating or any new formation with graphene-enhanced anti-fouling.

Other requirements expected of First Graphene include providing coatings that are inherently fire retardant and somewhat impervious to noise so that these can be effectively sprayed on doors and engine rooms of sea-faring vessels. This is in keeping with the company’s objective to transform high-grade vein graphite that it acquires from Sri Lanka to high-quality
grapheme. The product can then be produced on a commercial scale to be used by marine organizations worldwide.

In the words of Craig McGuckin, Managing Director of FGR, Engage Marine is yet another strategic partner with whom FGR is looking forward to collaborating in order to develop high-quality graphene-based products. On the other hand, CEO of Engage Marine, Mark Malone expressed his optimism, saying that as a result of this partnership, graphene would be effectively applied to improve the functionality of marine operations.

Because Engage Marine enjoys a prominent presence throughout Australia, it is ideally suited to provide an impetus to First Graphene’s objective to improve production methods and explore new opportunities to generate revenue.

About First Graphene (ASX: FGR)

First Graphene is an advanced materials company seeking to position itself in the lowest cost quartile of global graphene suppliers. It has developed an environmentally sound and safe method of converting its supplies of ultra-high-grade graphite into the lowest cost highest quality graphene, in bulk quantities.

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