First Graphene Secures Patents and Expands Global Reach Amid Strong Quarterly Growth

Quarterly Financial and Operational Highlights

First Graphene Limited (ASX: FGR) has delivered a solid quarterly performance for the period ending 31 December 2024, reporting combined income of circa A$148,000 from graphene sales and grant-funded programs. This revenue was primarily driven by sales in the composites and plastics sectors, underscoring the growing commercial traction of its PureGRAPH® product range. The company further bolstered its financial position with significant R&D tax rebates totaling approximately A$570,300, received from both UK and Australian authorities, reinforcing the value of its innovation efforts.

Despite a net cash outflow from operating activities of A$812,000 for the quarter, First Graphene maintains a strong cash position of A$1.32 million at quarter-end. The company anticipates sustaining operations for at least 1.6 quarters based on current cash flows, with confidence bolstered by recent tax rebates and post-quarter sales receipts.

Advancements in Patents and Technology

A key milestone was achieved with the securing of a patent for a cost-effective process to produce metal oxide deposited graphene electrocatalysts, critical for hydrogen generation via water electrolysis. This innovation leverages abundant base metals such as cobalt and nickel, potentially lowering the cost barriers for green hydrogen production. This patent complements First Graphene's existing Kainos Technology, which synthesizes battery-grade graphite and pristine graphene from petroleum feedstock while producing green hydrogen as a by-product. The company also secured patents for Kainos Technology in Australia and Korea, signaling strong international interest in its critical minerals technology.

Global Market Expansion and Commercial Trials

First Graphene has expanded its global footprint with four new distribution agreements across Asia and South America, including entry into China, the world's largest manufacturing market, and Vietnam, a major Asian manufacturing hub. Additional deals in India and Brazil further diversify the company's market access, enabling PureGRAPH® to penetrate textiles, coatings, composites, and polymers sectors in nine countries worldwide.

Commercial trials continue to advance, particularly in the cement and concrete sector. Over three tonnes of PureGRAPH-CEM® were shipped to the UK for a third trial with Breedon Group, aiming to validate industrial-scale benefits such as improved dispersion and compressive strength. Parallel durability trials in the UK and South Africa have demonstrated a more than 33% improvement in permeability for graphene-enhanced concrete, a critical factor for extending the lifespan of infrastructure.

Strategic Outlook and Industry Engagement

First Graphene's strategic focus on broadening its distributor network and advancing commercial applications is complemented by active industry engagement. The company's Senior Development Chemist recently presented at the Paint and Coatings Conference in Barcelona, highlighting PureGRAPH®’s anticorrosion and conductivity benefits. This outreach, alongside over 60 ongoing trials facilitated by distribution partners in Europe, positions First Graphene as a key player in sustainable materials innovation.

Looking ahead, the company anticipates launching new commercial opportunities in bearing lubricants, anticorrosion coatings, fire retardant construction materials, and PET packaging within the next 12 to 18 months. These developments, combined with ongoing patent protections and expanding market access, underpin First Graphene's trajectory toward cash breakeven and long-term growth.