Haydale Graphene awarded SMART funding from Welsh Government

Haydale said on Wednesday that by infusing Hydratech heat transfer fluids with Haydale functionalised graphene, there was potential to maximise thermal conductivity and thermal diffusivity, significantly increasing the efficiency of all fluid-based heating and cooling systems.

As part of a new innovation strategy for Wales, aimed at supporting Welsh industry by increased investment in research, development and innovation, Haydale said the SMART funding will enable both companies to accelerate their development of fluidstate superthermal conductors towards market-ready products.

The AIM-listed firm noted that the project totalled £147,221, with a grant value of £73,610 shared between the partners.

Chief executive Keith Broadbent said: "This support from Welsh Government will accelerate the development of our technology and processes, particularly for thermal fluid innovation, where we believe functionalised graphene can pave the way for the next generation of energy-efficient heating, particularly in situations where an air source heat pump can be installed in domestic and commercial properties."

As of 1035 GMT, Haydale shares were down 8.0% at 0.40p.

Reporting by Iain Gilbert at Sharecast.com