Contract Wins
23 October 2025
Haydale and Affordable Warmth Solutions Launch Winter Heating Programme Supported by Social Impact Partners
Haydale (AIM: HAYD), the advanced materials group, is pleased to announce it has entered into two new contracts with Affordable Warmth 1Solutions ("AWS"), the community interest company established by National Grid to reduce fuel poverty and improve energy outcomes for vulnerable households. The contracts - one funding the purchase for winter roll-out of Haydale's JustHeat system to vulnerable households and another supporting a grid stability trial - have a total value of approximately £450,0001 over the next five months.
This brings Haydale's total contracted revenues with major UK energy network partners and AWS to over £1 million2 - a significant milestone that underscores the growing commercial momentum of JustHeat with credible industry collaborators.
Highlights
· Two new AWS contracts: £450,0001, to fund a JustHeat winter deployment, and a grid stability trial.
· Winter Roll-Out: Free to consumer installation of JustHeat systems in fuel-poor households by March 2026, providing warmer homes and lower bills for those most in need. The programme will be delivered in conjunction with AWS' social impact partners who will target difficult to heat homes with occupants suffering from health conditions, worsened by the cold. The JustHeat panels are being supplied direct to AWS customers at Haydale's standard distributor rate.
· Grid Stability Trial: A trial (in collaboration with energy efficiency specialist Quidos Limited), provided to and funded by AWS, will measure how JustHeat reduces peak electricity demand and eases pressure on the local distribution electricity network, and is expected to provide evidence and robust data for future rollouts.
· Contracted Value Over £1M2 : With these awards, Haydale's cumulative contracted revenues with AWS and other major UK energy partners now exceeds £1 million1, marking a significant commercial milestone for the Company.
Related Party Transaction
The entering into the contracts with Affordable Warmth Solutions (the "Transactions") constitute related party transactions pursuant to Rule 13 of the AIM Rules for Companies by virtue of AWS's status as an associate of Jeremy Nesbitt, a non-Executive Director of Haydale. Jeremy is managing director of Affordable Warmth Solutions CIC and also a Director of Quidos Limited. Quidos Limited, which is also contracting directly with Affordable Warmth Solutions for the purposes of the Grid Stability Trial, shares a common majority owner with Quidos Technologies Limited, the Company's 16.2% shareholder. As previously disclosed, Simon Turek, CEO of Haydale, is a minority owner of Quidos Technologies Limited. The independent directors for the purposes of the Transactions, being all Directors excluding Jeremy Nesbitt and Simon Turek, consider, having consulted with the Company's nominated adviser, Cavendish, that the terms of the Transactions are fair and reasonable insofar as the Company's shareholders are concerned.
Simon Turek, Chief Executive Officer of Haydale, commented:
"Today's news marks another major milestone for Haydale. Partnering with Affordable Warmth Solutions on these programmes is a tremendous endorsement for JustHeat and brings our total contracted work with leading UK energy partners to over £1 million2 . We're proud to be delivering tangible social benefit by helping households in fuel poverty while demonstrating how JustHeat can contribute to grid stability and the broader energy-efficiency transition. It's a significant endorsement of our strategy and a launchpad for further growth."
Julian Swann, General Manager of Affordable Warmth Solutions (AWS), said:
"Ensuring vulnerable households, with health conditions worsened by the cold have affordable, reliable heating is a top priority for AWS - especially as winter approaches. We're pleased to support the roll-out of Haydale's JustHeat system, an innovative low-energy demand solution that provides efficient warmth without straining the grid. This project shows how technology can deliver real social impact by tackling fuel poverty while also enhancing energy resilience. We're delighted to partner with Haydale on this initiative, which aligns with our mission and could be scaled to benefit many more homes across the country if successful."
About Affordable Warmth Solutions
Affordable Warmth Solutions is a community interest company established by National Grid to reduce fuel poverty and improve energy outcomes for vulnerable households. Through fully funded heating and energy-efficiency programmes delivered in partnership with national and local organisations, Affordable Warmth Solutions helps make homes warmer, lower bills, and support communities in need.
Outlook
The Board believes these programmes provide strong near-term revenue visibility and valuable data to support broader adoption of JustHeat. Successful delivery of the winter deployment and grid trial could pave the way for wider roll-outs - for example across social housing and other utility-led schemes - firmly establishing JustHeat's role in enhancing home energy efficiency and grid stability. By validating both the social and grid network benefits of JustHeat, Haydale will be well-positioned to accelerate commercial deployment in partnership with energy sector organisations.
Footnotes:
1 £400,000 based on the customers' total system cost under the JustHeat system contract. The grid stability trial contract has £50,000 revenue associated with it.
2 Sum of revenues to date, purchase orders in hand, and the expected £450,000 being the subject of this announcement; all with UK energy network partners and now including AWS.
For further information
Haydale Graphene Industries plc
Simon Turek, Chief Executive Officer Tel: +44 (0) 1269 842946
Gareth Kaminski-Cook, Non-Executive Chair
Patrick Carter, Chief Financial Officer
Cavendish Capital Markets Limited (Nominated Adviser & Broker)
Julian Blunt / Edward Whiley / Trisyia Jamaludin Tel: +44 (0) 20 7220 0500
Corporate Finance
Andrew Burdis, ECM
