ALT, Steel Blue, NewGen are serious customers from my point of...

ALT, Steel Blue, NewGen are serious customers from my point of view but they do not require the necessary volumes to push FGR into the profit zone. Neograf has extended their product portfolio with the Puregraph product range, but how to sell into the US as they are not permitted to ship to the US as far as I know. Senergy Innovations claims on their website to be in production since 2023, but there is no possibility to order their product - maybe this will start soon. Halocell... who knows, could be the game changer we have been waiting for... Katana Surf, Protectology, SpaceBlue, Nanoproof, GTM Action, etc. also far too little volume to be significant...

They failed on the big ones that have been in the pipe (Gerdau & Hubron) because of the price IMHO. But as they entered an Development and Commercialization Agreement with Breedon it seems they have progressed on that front. Also the 5 year agreement with Fosroc tells me that the quality and price are matching the requirements.

It has been a long road so far and none of the public listed graphene producers is profitbale, many disappeared. Nanoxplore and Directa Plus are ahead in case of revenue but also still burning money. We will see if Black Swan, which won Hubron, will be profitbale with their 8K/t, which is also a quite lower price than what Nanoxplore has to offer.

They pushed news in front of the cap raise but failed to keep the glimmers of hope alive due to not reporting the results of the 2nd phase of the trails. Most probably because they did not show a better result as achieved in the first trail. Which must not be a bad result, because higher loading levels must not result in better performance - there are several studies out there showing this, it depends on the cement/concrete mix, the particle size and the loading level... often loading levels of 0,01%-0,03% show better results than higher ones.

But to be fair except of Gerdau and maybe Hubron soon too, not many big cooperations have graphene enhanced products on the market. The braod adoption did still not happen.