First Graphene Accelerates Global Growth with US Acquisitions and China Cement Deal

Strategic Acquisitions Boost US and Australian Market Access

First Graphene Limited (ASX:FGR) has taken decisive steps to broaden its global commercial reach, acquiring assets from MITO Materials Inc in the US and two Australian geotextile companies during the June 2026 quarter. The MITO acquisition immediately contributed revenue across four product lines serving the luxury sports equipment sector, with first purchase orders confirmed from Parlor Skis and Le Croix fishing rods. This deal also brought MITO’s former CEO Haley Marie Keith on board as Vice President Business Development, tasked with expanding the company’s US market presence, including in defence and aerospace.

The acquisitions of Ionic Industries Inc and Imagine Intelligent Materials in Australia provide First Graphene with a direct entry into the geotextiles market, opening pathways into mining, agriculture, waste management, and construction. The company plans to relocate and establish Ionic’s coating line within 90 days, aligning with its existing coatings strategy. These moves are part of First Graphene’s broader global growth plan focused on high-value, commercially viable graphene applications.

Major China Cement Market Deal Targets Emission Reductions

In a landmark commercial development, First Graphene signed a Memorandum of Understanding with Sixth Element Material Technology to distribute its PureGRAPH® CEM additive across China’s cement and concrete industry, the world’s largest, producing over 2.3 billion tonnes annually. The MOU outlines a pathway to grow sales to 500 tonnes, which would unlock the potential for local manufacturing via joint venture or licensing, tapping into a USD$50 billion market.

China’s cement production accounts for up to 15% of its national carbon emissions, making PureGRAPH® CEM’s CO2 reduction capabilities particularly relevant. This follows successful UK trials where PureGRAPH® enhanced cement roof tiles achieved up to 14% carbon emission reductions and an 8% decrease in cement usage without compromising strength. These results reinforce the product’s commercial appeal and its potential to meet global construction industry demands for lower-emission materials.

Financial Performance Shows Operational Progress

First Graphene reported circa A$135,000 in combined income for the quarter, primarily from graphene sales in the composites segment and development grants. The company achieved a 12% reduction in cash burn compared to the previous financial year, with total cash burn around A$2.39 million for FY2026. Revenue is expected to rise by 13% year-on-year, reflecting improved operational efficiencies alongside organisational growth.

Cash flow remains positive with A$2.87 million in cash and equivalents at quarter’s end. Operating cash outflows were A$734,000 for the quarter, while investing activities consumed A$363,000, including payments related to acquisitions and asset relocations. Financing activities saw a modest net outflow as the company manages its capital structure post acquisitions.

Expanding Defence and Distribution Channels

First Graphene is pursuing defence sector opportunities with a recent application to the US Defense Advanced Research Projects Agency (DARPA) to supply graphene products for aerospace composites. The MITO acquisition strengthens this push by establishing a commercial foothold in the US defence market, valued at over USD$1.18 trillion.

Distribution agreements were also expanded, notably with Bisley in Australia and New Zealand, granting broader exclusive rights to supply PureGRAPH® products across multiple industries, including cement, coatings, lubricants, and emerging paper manufacturing applications. Bisley will collaborate on launching a new portfolio of graphene liquid additives slated for commercial release in the second half of calendar 2026, expected to further accelerate graphene adoption in the region.