- Haydale revealed Friday that it had been awarded a grant from the Niche Vehicle Network to develop graphene enhanced composite tooling and graphene enhanced automotive body panels.

Haydale would lead a consortium which included Briggs Automotive Company and Pentaxia, and receive £120,000 of the £249,600 grant that had been awarded to the consortium.

Haydale said it would look to reduce cycle times compared to existing tooling methods, reduce weight and increase performance of component material.

The move opened up an opportunity to explore tooling materials across several markets, not just the automotive sector, which is the company's main focus, Haydale added.

'This funding will build on the significant developments already made by Haydale in advanced prepreg materials. The novel prepreg will be of significant interest to niche vehicle manufacturers and the premium and luxury automotive sectors, with BAC as a ready-made customer,' said Keith Broadbent, COO at Haydale.

At 8:16am: [LON:HAYD] Haydale Graphene Industries Plc share price was -2p at 27.5p

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