First Graphene Posts 156% Jump in Customer Receipts and Produces 600 Tonnes of Graphene Cement

A Quarter of Breakthroughs

First Graphene Limited (ASX, FGR) has delivered its strongest quarter to date, underscoring the company’s transition from research to commercial adoption of graphene-enhanced products. For the quarter ending 31 December 2025, customer cash receipts soared by 156% quarter-on-quarter to $271,000, while overall operating cash inflows surged 423%, driven by increased sales and research and development rebates.

This financial momentum is complemented by a robust cash balance of $4.9 million, bolstered by a $3.5 million capital raise, positioning First Graphene to focus on scaling commercial operations without the immediate need for further capital.

Industrial-Scale Cement Production Marks a Milestone

One of the quarter’s standout achievements was the production of approximately 600 tonnes of graphene-enhanced cement at Breedon Group’s Hope Cement Works in the UK. This industrial-scale run is among the largest of its kind globally and represents a significant step in embedding graphene into mainstream construction materials.

The graphene additive, branded PureGRAPH®, enabled a reduction in CO₂ emissions by up to 20% through lowering clinker content, while simultaneously enhancing the strength and durability of the cement. This breakthrough aligns with global decarbonisation efforts and opens pathways for graphene’s use in infrastructure projects, including collaborations with Morgan Sindall Group and FP McCann.

Expanding Market Footprint Across Industries

First Graphene’s commercial reach extended further this quarter with a record number of purchase orders from new customers, accounting for 65% of revenue. These orders span footwear, cement additives, conductive greases, fire retardant polyurethanes, and defence ballistic protection segments, reflecting the material’s versatility.

Repeat orders from existing customers, representing 35% of revenue, indicate growing confidence and satisfaction with PureGRAPH’s performance in applications such as swimming pool composites, printed conductive inks for defence, and solar cell coatings.

Strategic Advances in Energy and Defence

In a strategic move, First Graphene secured an exclusive global license from Halocell Australia to manufacture and market graphene-enhanced carbon paste used in perovskite solar cells (PSCs). PSCs offer superior efficiency and flexibility compared to traditional silicon cells, with promising applications in defence and drone technology, where lightweight and extended flight times are critical.

The company is actively exploring partnerships to commercialise this technology, which could broaden its footprint in the renewable energy sector and adjacent markets.

Outlook and Industry Positioning

First Graphene’s leadership in the graphene industry is reinforced by its scalable PureGRAPH product, which is gaining traction as a commercially viable additive across multiple sectors. The company’s CEO, Michael Bell, emphasised the shift from theoretical potential to real-world deployment, highlighting the growing pipeline of applications and recurring revenue streams.

With ongoing projects in construction, energy, defence, and workwear, and a strong balance sheet, First Graphene is poised to maintain its growth trajectory into the next quarter and beyond.