Under the terms of the exclusivity agreement, which currently runs until 30 April 2014, the two parties have agreed to work together in good faith to, among other things:

• prepare a joint business plan to develop the technology for advanced energy storage applications;

• seek to raise further funds to facilitate the execution of this business plan; and

• negotiate terms for Cientifica and LGL to work together in the future. This may be through Cientifica acquiring or merging with LGL.

A further announcement will be made in due course, the companies said.

Energy storage is one of the world’s largest markets and as expected, graphene is being slotted into all the same applications in this arena that have long been targeted for nanomaterials. The partnership with London Graphene Ltd enables us to jointly explore a number of significant opportunities to which we can also bring Cientifica’s expertise in technology commercialisation.

—Tim Harper, Chief Executive, Cientifica Plc

London Graphene Ltd was established in 2013 to develop advanced energy storage applications based on high quality graphene.

Graphene is a one-atom thick form of carbon with excellent electrical conduction properties and a very high surface area. London Graphene aims to improve the performance of existing capacitors, batteries and fuel cells significantly by integrating graphene into the designs.

London Graphene Ltd has been awarded a Smart Grant from the Technology Strategy Board (TSB).