Haydale Awarded SMARTCymru Funding to Develop Anti-Counterfeiting Technology
12 January 2022
Haydale, (AIM: HAYD), the global advanced materials group, is pleased to announce that it has been awarded a SMARTCymru grant from The Welsh Government that will enable the Ammanford-based company to progress with the development of its anti-counterfeiting
ink technology, PATit (the "Project").
The Project has a total cost of £169,000 and is expected to take six months to complete. The SMARTCymru grant, which is part-funded by the European Regional Development Fund, will cover circa 50% of the anticipated project costs.
PATit is an anti-counterfeiting technology that uses graphene-enhanced, high-performance conductive inks and proprietary software codes for brand and security protection that is non-copiable and does not require expensive printing
processes or electronic chips (NFC / RFID).
PATit has been developed to address a market need for smart disruptive technologies in the security tag sector. The anti-counterfeiting technology is planned to be manufactured in Wales.
Funded by SMARTCymru, which supports growth of Welsh industry by increased investment in research, development, and innovation, PATit aims to provide a mass market anti-counterfeiting technology that addresses the current market need for secure low-cost
anti-counterfeiting technologies. Central to the overall performance of PATit is Haydale's patented plasma enhanced surface functionalisation process, which allows the surface chemistry of nanomaterials such as graphene to be altered to improve
the physical and electrical properties.
PATit is innovative to existing technologies for brand and security protection by using proprietary software codes and a speciality graphene-based conductive ink. This enables counterfeiting devices to read the unique ink when printed onto a product
label or other material. The Project will also focus on the development of the mobile app software and secure server system required to store and read the PATit codes. There are now several Patents approved for PATit including the EU and US.
PATit has also been shortlisted for a 2022 British Engineering Excellence Award in the 'Materials Application of the Year' category. The winners will be revealed at a gala lunch on 18th March to be held in London at The Landmark Hotel.
David Davies, UK Managing Director at Haydale, commented:
"The funding will build on the already significant developments Haydale has made in ink development using our patented plasma functionalisation process. With the award from SMARTCymru, Haydale's path to commercialising its anti-counterfeiting technology,
PATit, will be accelerated allowing us to further develop our graphene-enhanced functionalised inks.
"The aim is to be able to provide the PATit technology to the mass market to meet the need for affordable high volume brand protection and provide a step to green environmentally friendly anti-counterfeiting products that we believe will surpass technologies currently available."
For further information:
|Haydale Graphene Industries plc|
|Keith Broadbent, Chief Executive Officer||Tel: +44 (0) 1269 842 946|
|finnCap (Nominated Adviser & Broker)|
|Julian Blunt/Edward Whiley, Corporate Finance Andrew Burdis, ECM||Tel: +44 (0) 20 7220 0500|
Notes to Editors
The total cost of the project is £169,000 with funding from SMARTCymru valued at £86,080.
Haydale is a global technologies and materials group that facilitates the integration of graphene and other nanomaterials into the next generation of commercial technologies and industrial materials. With expertise in graphene, silicon carbide and
other nanomaterials, Haydale can deliver improvements in electrical, thermal, and mechanical properties, as well as toughness through its state-of-the-art functionalisation. Haydale has granted patents for its technologies in Europe, USA, Australia,
Japan, and China and operates from five sites in the UK, USA, and the Far East.
For more information please visit: www.haydale.com
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