Applied Graphene Materials signed a distribution agreement with Carst & Walker to extend its reach into the South African chemical markets.

C&W, part of Hobart Enterprises, operated across multiple global markets, the company said.

The exclusive agreement would see the two companies collaborate on opportunities in the South African market and introduce Applied Graphene Materials' proprietary Genable product into the South African coatings market. The companies were also collaborating on opportunities in other territories.

'Carst & Walker are a great partner for AGM as we enter new geographic territories and the relationship provides an excellent route to market for our products. In particular, as we are introducing a new technology, it is essential that our distribution partners are well trusted by their customer base and have a proactive and knowledgeable sales team to support new products,' said Adrian Potts, CEO of AGM.

At 8:29am: (LON:AGM) Applied Graphene Materials share price was +1p at 29p