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Applied Graphene Materials hails customer launch of graphene car wax

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Applied Graphene Materials PLC (LON:AGM) said its customer, European car products maker Infinity Wax, has launched a second product enhanced with the company’s graphene technology.

The AIM-listed firm said the new product, Graphene Wax, uses its Genable graphene nanoplatelet dispersions technology and was launched on January 28, 2021, following the successful release of the first product, QDX Graphene Detailing Spray, in the fourth quarter of 2020.

READ: Applied Graphene Materials raises £6mln to carry out next stage of growth plan

Applied Graphene Materials said the new product is the result of an “extensive evaluation and testing programme” between the two companies, adding that Infinity Wax expects to see “significant customer interest” in the new product, as was seen in the launch of QDX Detailing Spray last year where initial stocks sold faster than anticipated and attracted interest from a number of specialist journals and forums for car groups. 

The Graphene Wax product is available from the Infinity Wax website and at a growing network of car detailing shops across the UK and Europe.

“We are proud to have been able to work with the Infinity Wax team on the development of a further performance-enhancing product for the car care sector which incorporates our graphene dispersion technology”, Applied Graphene Materials’ chief executive Adrian Potts said in a statement.

“We are delighted to see a second graphene product launch for our customer and we look forward to seeing this product’s success in the market, and how this translates into revenue growth for both AGM and Infinity Wax. This product once again demonstrates the effectiveness of AGM’s approach to close collaboration with our customers, which has delivered an optimum outcome with the deployment of our graphene dispersions,” he added.

Shares in Applied Graphene Materials were 1.2% lower at 46.4p in mid-morning trading on Wednesday.

MARKET REPORT February 3rd 2021 #VOD #GSK #UTG #GILD #BCN #GOOGL #AMZN

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