Haydale Graphene Industries PLC Memorandum of Understanding with Viritech

TIDMHAYD

Haydale Graphene Industries PLC

06 September 2021

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RNS Reach

 
                             6 September 2021 
    For immediate release 
 

Haydale Graphene Industries plc

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

Memorandum of Understanding with Viritech

Haydale (AIM: HAYD), the global advanced materials group , is pleased to announce that the Company has signed a Memorandum of Understanding with Viritech Limited ("Viritech"). Viritech is developing technologies to deliver advanced hydrogen powertrain solutions for the automotive, aerospace, marine and distributed power industries and Haydale will provide Viritech with consulting engineering support services, including pressure vessel design, structural analysis, and material science analysis.

Viritech are world leaders in the development of integrated hydrogen powertrains and, through its technical partnership with Horiba MIRA, has access to 40 major engineering facilities and over 600 engineers onsite in Nuneaton as well as MIRA's engineering network across the Midlands. Viritech's focus is on areas where hydrogen fuel cells offer immediate benefits - where the effectiveness of batteries is compromised by mass-compounding or power, range and duration requirements increase, or long-term energy storage is required.

Haydale is utilising its expertise in engineering solutions for hydrogen storage in tandem with its experience in nano material science to work with Viritech on the testing and development of Type IV structural composite pressure vessels for hydrogen storage. The initial project will commence in September 2021 and is scheduled to last for six months. Subject to positive results, Haydale anticipates follow on development work both in respect of Type IV tanks but also further research into next generation Type V linerless pressure vessels.

The first application is expected to be in the Apricale(TM) Hypercar but future applications are expected to extend to HGV and light aircraft prototypes. After certification of the Type IV design, Viritech expects to enter into licencing arrangements with existing suppliers of composite pressure vessels to OEMs and Tier 1 manufacturing customers and it is anticipated that, with subsequent designs, customers will require Haydale to supply functionalised nanomaterials as part of any licence agreed.

Timothy Lyons, Viritech CEO and Founder, said : "We are delighted to be working with Haydale's exceptional engineering team to help us develop structural composite pressure vessels for hydrogen storage. Viritech believes that the world's transition to Green Hydrogen will be vital to the long-term sustainability of the planet and the ability to store hydrogen safely and effectively will be key to facilitating this transition."

Keith Broadbent, Haydale CEO, said : "We are excited to be working with Viritech on the first of what we expect to be a number of projects that will help unlock the pathway to hydrogen propulsion. Our role with Viritech brings together our expertise in functionalised nano materials and experience in lightweight, low-permeability hydrogen storage tanks and complements our work with the Advance Propulsion Centre's Automotive Transformation Fund."

For further information:

 
  Haydale Graphene Industries plc 
  Keith Broadbent, CEO                     Tel: [phone] 
                                                     www.haydale.com 
 
  Arden Partners plc (Nominated Adviser 
   & Broker) 
  Ruari McGirr / Paul Shackleton/Oscair    Tel: [phone] 
   McGrath 
 

Notes to Editors

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

Viritech cleantech engineers are leading the development of Hydrogen powertrain solutions for the Automotive, Aerospace, Marine and Distributed Power industries. For more information please visit: www.viritech.co.uk

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September 06, 2021 02:00 ET (06:00 GMT)