First Graphene Signs Distribution Agreement to Supply Product to India, South Asia, UAE

MT Newswires Live
Feb 04

First Graphene (ASX:FGR) said it has signed dual agreements with Syron GreenThrust Dynamics to supply its PureGRAPH products across India, the South Asian Association for Regional Cooperation (SAARC) nations, and the United Arab Emirates, according to a Wednesday Australian bourse filing.

The three-year distribution agreement contains a structured volume ramp-up of 0.25 tonnes of PureGRAPH product in the first year, two tonnes in the second year, before increasing to 20 tonnes per annum thereafter.

As part of the agreement, achieving demand of 20 tonnes per annum would trigger the option to negotiate a manufacturing deal in India, including a licenced or joint venture in-country production facility.

The company has also executed a memorandum of understanding to strengthen collaboration for future licensing and manufacturing.

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