First Graphene Limited is pleased to announce that it has entered a binding Sale Agreement to acquire all product lines, manufacturing equipment and intellectual property of MITO® Material Solutions, Inc (“MITO”).
Importantly, the acquisition will expand First Graphene’s capability to functionalise graphite, graphene and graphene oxide – increasingly important materials used across a broad range of commercial and defence applications to enhance the performance of advanced material additives.
The agreement includes acquiring MITO’s E-GO®, LIGRA™, OMEGA and DELTA product lines, which represent a suite of thermoset, thermoplastic, composite materials, coatings, liquids, resins and nanomaterial additives.
FGR accelerates strategic expansion into the United States
The acquisition represents a strategic step for FGR, significantly broadening the Company’s technology platform beyond high-performance graphene powders and dispersions into advanced graphene oxide, hybrid graphene additives and functionalised nanomaterial technologies.
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Importantly, the acquisition also establishes FGR with a direct operational and commercial platform within the USA, enhancing access to the world’s largest defence and advanced materials market, positioning the Company to pursue new areas for revenue growth, customer penetration and strategic partnerships.
Expanding defence and aerospace opportunities
The acquisition, by creating an operating presence in the USA, enhances FGR’s exposure to emerging USA defence and aerospace opportunities involving graphene enhanced technologies.
Functionalised graphene and graphene oxide technologies are increasingly recognised as critical enabling materials across aerospace and defence applications due to their ability to improve interfacial bonding, mechanical performance, conductivity, durability and multifunctionality.
Recent US Department of Defence and DARPA1 initiatives have increasingly focused on lightweight graphene enhanced composite structures, thermal management systems, advanced energy materials and next-generation survivability materials.
FGR’s acquisition of MITO builds directly on the Company’s materials portfolio with potential defence applications, including perovskite solar technologies for endurance drones through the Company’s partnership with Halocell, mechanically strengthened composites, carbon fibre technologies and advanced conductive and Electromagnetic Compatibility (EMC) shielding additive systems.
Proven products with established US customers
MITO‘s products are already deployed by multiple premium USA brands seeking advanced material performance enhancements, including Parlor Skis, Folsom Custom Skis and St. Croix Rods.
Parlor Skis uses MITO’s graphene enhanced E-GO® technology to improve the strength-to-weight ratio, responsiveness and durability of high-performance custom skis. Graphene enhanced composite systems reduce weight while maintaining structural stiffness and vibration damping, key performance attributes in high end ski hardware.
Folsom Custom Skis incorporates MITO’s graphene technologies to improve composite laminate performance, delivering increased durability, enhanced flex control and improved energy transfer characteristics for high-performance ski applications.
“The acquisition of MITO Material Solutions assets represents a transformational push into the USA market for First Graphene, immediately expanding the Company’s product portfolio further into graphene oxide and functionalised graphene technologies – two rapidly emerging segments of the advanced materials market. Combined with our existing PureGRAPH® technologies, this acquisition creates one of the broadest and most advanced graphene product portfolios globally, said US, Managing Director and CEO, Michael Bell.
MITO has established commercial traction with premium USA customers and built a substantial pipeline of opportunities across sporting goods, industrial composites and advanced materials.
Importantly, this acquisition provides First Graphene with a direct operational and commercial launch platform into the USA, enabling the business to aggressively accelerate revenue growth and customer adoption in the world’s largest advanced materials and defence market. The addition of graphene oxide and functionalisation capabilities significantly strengthens our ability to deliver next-generation performance additives across defence, aerospace, composites, coatings, polymers and energy applications.
SOURCE: PRNewswire
