Wheelsure Holdings PLC (LON:WHLP) is to work with Haydale Graphene Industries PLC (LON:HAYD) on a “smart” graphene pressure sensor for the fastener market.
Industrial engineering company Wheelsure and graphene products specialist Haydale have had a commercial relationship since February of this year and this new project will see Haydale’s functionalised graphene sensor technology paired with Wheelsure’s fail-safe locking solution.
READ: Haydale Graphene surges as University of Manchester graphene engineering centre joins fail-safe collaboration
Commercial terms on the project funding are being finalised, Wheelsure said.
The sensor concept will be specifically developed for the current locking system by engineers at The University of Manchester’s Graphene Engineering Innovation Centre (GEIC) and was showcased at the opening on 10 December.
The parties have entered into a commission-based sales arrangement whereby Haydale will introduce the existing product solution to several identified customers, including major infrastructure projects in USA and China. The agreement extends to the “smart” system being developed by Haydale and the GEIC.
“We are delighted to be working with Haydale and GEIC on this project; the cutting-edge graphene materials they can bring to our fastener solutions will pave the way for the future of intelligent safety technology,” said Gerhard Dodl, the chief executive officer of Wheelsure.
Shares in Haydale were up 1.9% at 27.5p in early deals while Wheelsure shares, quoted on the NEX market, were unchanged.