Dear Ionic Shareholder and Friends,
It’s been a while since our last update, however that does not mean we have been idle. We have been working hard to finalise a range of issues so that we can provide complete and meaningful updates, rather than flooding your inboxes with inconclusive updates.
Following the handover of Imagine Intelligent Materials from the administrator in June, we have been busy having those accounts audited and finalising the compulsory acquisition of the remining 5% of shares that remained outstanding in the company. We have also concluded the process of dealing with the outstanding creditors of Imagine so that we can present a coherent and tidy company in our preparation for listing of Ionic in the near future. These processes are largely finalised now and, as we have progressed our technology development and capital raising plans, things are now coming together in a way that will enable us to offer a compelling value proposition to IPO markets.
We are at the final stages of recommissioning our plant for the commercial production of graphene materials at our new factory in Mt Waverley. We’ve had a team of consultant engineers working alongside our operations team for the past 3 months and we’ll begin production in the next few weeks. We’ve recently welcomed our first engineer into the role of process operator to support this manufacturing scale up, Bhupinder Paramar.
This capability sits alongside our supercapacitor materials scale up work, also in the Mt Waverley facility. The scaled-up equipment housed there will be used to produce larger quantities of material necessary for commercial trials of supercapacitor devices made using out electrode materials. We will be in a position to begin processing these quantities in the next few weeks.
Continuing our strategy of bringing graphene technologies to market in collaboration with world-leading industry partners, we have been working on agreements with a range of partners and potential partners:
· Our work with Cap-XX continues, with the next milestone being the production of commercial quantities of active materials for use in larger scale manufacturing.
· We have a Memorandum of Understanding with Geofabrics working towards supply of coated geotextiles for leak detection and other sensing applications. We look forward to this leading to significant near-term revenues through a formal supply agreement in due course.
· We have signed NDAs with a leading global supplier of conveyor and transmission belts and with a leading global flooring company to support discussions on joint development of sensing belt applications and smart flooring.
We are proud to announce that Ionic has signed on as a key partner in the newly formed Australian Research Council Research Hub for Advanced Manufacturing with 2D Materials (AM2D). Ionic will have 5 projects with AM2D focusing on both near- and long-term research targets. This will ensure that we continue to iterate and improve our existing portfolio of technologies while maintain our commitment to commercialisation of deep-tech applications for graphene and 2-dimensional materials. Our commitment to this project $1.25m further cements our relationships with Monash University and will ensure that we will continue to leverage the extraordinary depth of talent and resources available at this world-class research institution.
CORPORATE PROGRESS AND LISTING
With all of the above-mentioned progress, we are in a good position to take the next steps in our own corporate development. We will be exploring various capital raising opportunities both in Australia and overseas. As always, we will aim to secure the best possible outcomes for our long-standing shareholders and we greatly appreciate the support you have given us in reaching this stage. We look forward to exciting announcements in the very near future … stay tuned!