- Haydale Graphene Industries' total income rose to GBP0.8 million in the six months to the end of December - up 63% year-on-year.

The group reports significant investment in R&D in the period of £0.5 million (2014: £0.4 million), particularly in respect of graphene enhanced resins for the composite markets and the total loss after tax was £1.9 million (2014: £1.5 million).

Other financial highlights:

· Completion of significantly oversubscribed placing and open offer raising £6.0 million largely for commercialisation of Haydale's technology in the composites market;

· Investment in capex to increase capacity in the period of £0.5 million (2014: £0.6 million); and

· Cash at period end of £5.0 million (30 June 2014: £2.0 million).

Chief executive Ray Gibbs said: "This has been another busy period for the Group. We have been successful in raising funds to commercialise our technology, with a major focus on producing enhanced composite materials, especially in meeting market needs for resins capable of delivering high performance electrical conductivity, improved thermal heat management and light-weighting opportunities.

"Our acquisition of leading composite consultants, EPL (renamed 'HCS'), in November 2014, is now showing significant progress with the recent launch of three new products and impressive enhanced properties of Huntsman's Araldite® resins. During the period we have invested significant internal resources in R&D in the advanced composite arena, and especially focussed on improving the Huntsman epoxy resin.

"We have achieved an impressive 380% increase in thermal conductivity (essential for rapid heating and cooling of composites such as tooling), 70% increase in fracture toughness (impact resistance) and taking the resin from being electrically inert to conductive (used for anti-static requirements on electronic housings). We are looking for our investment in R&D to generate IP and provide anticipated greater commercial benefits in future periods.

"We are delighted to now have in place a complete supply chain for delivery of graphene enhanced commercial composite products - being a number of unfunctionalised nano-material suppliers, the market leaders in supply of quality epoxy resins (Huntsman), the producer of the intermediate composite products known as prepregs (SHD Composites Limited) all utilising Haydale's patented dispersion technology. Crucial to Haydale is that sales are expected to be generated by each of the supply chain partners' existing routes to market and their respective extensive global customer bases "The next 12 months will be an exciting time for the Group as we anticipate driving material revenues to the Group from the high levels of focussed investment we have made and continue to make."

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