First Graphene finds new markets for PureGRAPH as orders begin to multiply

PureGRAPH income reaches A$201,000 in first quarter

First Graphene Limited (ASX:FGR) lifted combined income 21% year on year to approximately A$201,000 in the three months to 30 September 2026. The unaudited figure comprised roughly A$100,000 from graphene and product development sales and A$101,000 from collaborative projects and research and development programs.

The increase came as the company added customers and applications for its PureGRAPH range. That progress is visible in the spread of activity rather than in a single large contract: cement distribution in China, heat sensors in the UK, fire-retardant polyurethane for mining and, after quarter end, carbon-fibre prepreg and sports footwear.

New mining order moves PureGRAPH into production

First Graphene secured its first production purchase order from Australian polyurethane manufacturer Pacific Urethanes, with PureGRAPH being incorporated into formulations intended to improve fire retardancy in mining applications. The order follows development work and represents a transition into commercial manufacture, although the filing does not disclose its value or expected volume.

The company said the initial target is Australia’s mining and resources sector. Polyurethane is used in products including wear liners, screening media, conveyor components and piping, while fire performance remains a limitation in some underground settings. The opportunity is therefore technically specific: the stated aim is to improve fire retardancy without sacrificing the durability and wear characteristics that drive polyurethane use.

Aeropreg and Flux extend the application pipeline

After quarter end, First Graphene signed a three-year development and commercialisation agreement with Turkish prepreg maker Aeropreg. The program will use First Graphene’s epoxy concentrates to develop repeatable graphene loading in carbon-fibre prepreg, followed by testing of strength, durability, performance and manufacturability. It remains conditional on trial results and does not yet establish a commercial launch, purchase commitment or contract value. The agreement builds on the three-year Aeropreg deal previously announced as a potential route into aerospace, defence and automotive supply chains.

First Graphene also received its first purchase order from US performance footwear company Flux Footwear. PureGRAPH will initially be used in high-wear areas of Flux’s Graphene XT gym shoes, with broader replacement of existing graphene models planned as production requirements grow. The initial order is explicitly not financially material, making follow-on volumes more important than the announcement itself.

Cash falls to A$1.831 million

The stronger commercial narrative sits alongside a tight funding position. Cash declined from A$2.866 million at the previous quarter end to A$1.831 million at 30 September, after net operating cash outflow of A$915,000. The largest operating cash categories were staff costs of A$393,000, advertising and marketing of A$219,000, administration and corporate costs of A$267,000, and product manufacturing and operating costs of A$155,000.

With no financing facilities listed, the Appendix 4C estimates two quarters of funding based on the quarter’s operating cash outflow. That is a snapshot based on one quarter, not a forecast of future burn. The central test now is whether the new orders and partnerships convert into repeat revenue quickly enough to support the expansion before further funding becomes necessary.