Haydale Graphene Industries plc announced that it has signed an agreement with a Chinese tooling manufacturing company (with whom it has been trading for over 12 months generating over USD 250,000 in sales for Haydale) to facilitate the distribution of Haydale's world leading Silicon Carbide (SiC) whisker reinforced cutting tool parts to new markets in Asia. This agreement specifies a progressive minimum annual financial commitment for the partner to place USD 4.0m of orders with Haydale over the duration of the five year deal. Under the terms of the agreement the Chinese tooling manufacturing company will be the exclusive distributor of Haydale's unique and high-quality silicon carbide tooling into the Chinese market.

This partnership is set to enhance the availability and accessibility of these premium materials to a broader range of industries in China, including the aerospace, automotive, and industrial manufacturing sectors. Importantly, the agreement will also provide Haydale with exclusive access to their new partner's range of proprietary Carbide and Cermet products for the US and UK markets (although there is no minimum financial commitment set for this element) which, together with another agreement signed earlier this year with a China based Cubic Boron Nitride (CBN) tooling manufacturer, will allow Haydale to provide a one stop shop offering to its customers across a wide range of tooling requirements. This landmark deal for Haydale, valued at USD 4.0 million over the five years, marks a major milestone in the Company's global expansion strategy, increasing their portfolio of tooling offerings, and promises to bolster the commercial scope and reach of its US-based tooling operation.