Periodic Reporting for period 1 - GRAPHCOAT (New generation of polymeric films, LDPE-Graphene based, for industrial applications)
Reporting period: 2019-08-01 to 2019-11-30
In the coatings industry, new effective coating materials, eco-friendly and economically viable, are urgently needed. Graphene appears to be a promising alternative for non-ferrous metals in the coating market due to its unique properties of impermeability to gases, anti-bacteria, mechanical strength, electrical conductivity, lightness, among others. GRAPHCOAT is an innovative multifunctional barrier film made of Low-Density Polyethylene enhanced with high-quality and non-toxic graphene and manufactured with our proprietary extrusion coating technology. With its unique compound formulation and exploiting the features of graphene, GRAPHCOAT offers outstanding water and vapor barrier properties, excellent antibacterial protection, fire retardancy and thermal regulation, among others. Its application on industrial packaging, protective clothing and building insulation allows duration, safety, and require less raw material compare to current barrier technologies.
Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far
From a technical point of view, we have contacted new Graphene manufacturers to explore new potential collaborations. We have elaborated the technical plan to be followed in order to validate GRAPHCOAT including the requirements for the testing certification, the suppliers, the consultant and the laboratory where the tests will be performed. We have elaborated a business plan to launch the GRAPHCOAT project into the targeted markets identifying the early adopters that will help us to test and promote the compound. In the commercialization plan, FtO has been confirmed and we implemented an in-depth analysis of the targeted markets in order to evaluate the market shares in the sector and the best penetration strategy. A pricing policy has been established as well as the identification of the target audiences and messages for them. We have estimated the costs to bring GRAPHCOAT to market and elaborated a financial plan, that showed positive figures.
Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)
Our new product has already raised the attention of many clients in the fields of industrial packaging, building insulation and protective clothing, who are willing to be early adopters benefiting by GRAPHCOATs properties and offering feedback to us. Once the final formulation is tested and validated, we expect to hit the market by 2022, unblocking €12 million revenues with €4,9 million of cumulative profits by 5th year of commercialization. This will entail the enlargement of our workforce with 16 new employees.