Universal Matter to Acquire Applied Graphene Materials’ Main Operating Businesses

Universal Matter UK Limited, a wholly owned subsidiary of Universal Matter Inc., has agreed to acquire all shares of Applied Graphene Materials UK Limited and Applied Graphene Materials LLC, the main operating subsidiaries of Applied Graphene Materials plc, for a total consideration of $1.3 million. With the sale and purchase agreements relating to this transaction having been signed on Feb. 21, 2023, the anticipated completion of the transaction is conditional on AGM shareholder approval and UK NSI Act approval.

Universal Matter Inc. (UMI), a privately held Canadian corporation, was formed in July 2019. UMI is a high-tech advanced materials company seeking to create strong circular economies by upcycling a range of carbon-based materials, including waste streams, to manufacture and supply high quality and sustainable turbostratic graphene (TG).

UMI’s proprietary Flash Joule Heating (FJH) process can uniquely transform a wide variety of carbon-containing feedstocks into high value graphene materials using its highly efficient and low-cost manufacturing process. UMI’s unique pathway for producing graphene is strongly protected by background IP and trade secrets that the company has built up during the last three years.

UMI operates its Innovation Centers in Mississauga, ON and Houston, TX; the company has recently acquired a 18,000 square foot building in Burlington, ON for housing its Demonstration Plant. The Demonstration Plant is expected to be operational in the third quarter of 2023 with a nameplate capacity of ~1t/day at full utilization. The combination of feedstock flexibility and the FJH process technology can produce tuneable graphene products with a wide range of physical properties. This is instrumental in providing performance benefits across diverse end-use applications.

“Our proposed acquisition of AGM fits exceptionally well with UMI’s growth strategy by significantly enhancing our dispersion and application capabilities for advanced paints and coatings,” said John van Leeuwen, CEO of Universal Matter. “Moreover, it will provide UMI with an important European footprint for strengthening our growth potential through AGM’s established distributor network.”

AGM’s market leading product technologies have been designed to deliver next generation performance requirements for protective industrial coatings and other applications. This includes graphene dispersion technologies, application and formulating know-how, and compelling test results to support market adoption in coatings, composites and beyond.