Haydale Graphene inks contract with Jersey Energy Technologies

2nd Sep 2024 09:58

(Sharecast News) - Advanced materials group Haydale Graphene said on Monday that it has inked a new contract with Jersey Energy Technologies to begin a pilot trial deploying its underfloor heaters within social housing on the Channel Island.

Haydale Graphene said the contract marked the first real-world installation of its product and was planned to take place with JET later in FY24, with the pilot trial set to gather information over the winter period to support the efficacy and efficiency data already generated from its in-house testing.

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 was to be successful, Haydale expects that its "environmentally friendly underfloor heating system" will be rolled out in phases to selected homes and buildings.

Chief executive Keith Broadbent 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."

As of 0955 BST, Haydale shares were unchanged at 0.31p.

Reporting by Iain Gilbert at Sharecast.com