First Graphene Limited: FGR enters agreement to acquire advanced graphene coatings companies

Highlights

• First Graphene enters agreement to acquire key assets of Ionic Industries Inc. and Imagine Intelligent Materials
• Acquisition delivers advanced, graphene coatings technologies with proven commercial applications
• Immediate exposure to high-value geotextile and environmental infrastructure markets
• Enhances First Graphene's product suite and strengthens pathway to accelerated commercialisation

SYDNEY, April 28, 2026 /PRNewswire/ -- First Graphene Limited (ASX: FGR; "First Graphene" or "the Company") (FRA:M11) (OTCQB:FGPHF) is pleased to announce it has entered a binding Asset Purchase Agreement ("Agreement") to acquire all manufacturing, intellectual property and development assets of Ionic Industries Inc. ("Ionic") and its subsidiary Imagine Intelligent Materials ("Imagine") (together, "the Companies").

The acquisition represents a highly strategic and cost-efficient opportunity to integrate advanced graphene coatings technologies developed over more than a decade of research and commercialisation activity.

Following a comprehensive due diligence process, First Graphene identified strong technical and commercial alignment with the Companies' graphene formulation platforms, which have already demonstrated successful application across multiple real-world use cases.

Under the Agreement, First Graphene will acquire production infrastructure, intellectual property, and established sales and distribution channels for a total consideration of AU$250,000 (cash and shares), representing a compelling entry point into proven technologies with significant growth potential.

Of primary interest is Ionic's revenue-generating graphene coatings formulations technology, and their application to geotextiles to improve both barrier and conductivity properties.

In addition to the geotextile coatings technology, the acquisition includes the full suite of intellectual property developed by the Companies across a broad range of industry segments. This portfolio spans advanced graphene enabled solutions in areas including environmental remediation, water treatment, energy storage, sensing technologies and functional coatings. The breadth of these technologies provides First Graphene with a diversified platform of innovation beyond geotextiles, with potential applicability across multiple markets. First Graphene will assess opportunities to build upon and integrate these technologies within its existing customer base, where a logical and commercially attractive pathway to market can be established.

Strategic rationale

This acquisition provides First Graphene with immediate access to revenue-generating graphene coatings formulations, particularly in geotextile applications where enhanced barrier performance and conductivity deliver clear commercial advantages.

These technologies are already applicable to large and growing markets including:

• Water containment systems (e.g. farm dams and tailings storage)
  
  
• Landfill and waste management barriers
  
  
• Construction materials requiring enhanced durability and impermeability

Importantly, these applications align closely with First Graphene's existing PureGRAPH portfolio and targeted end markets, creating a natural extension of the Company's product offering and accelerating time-to-market for new solutions.

The acquisition also includes an established customer and distribution base, providing a platform for First Graphene to optimise operations, strengthen commercial relationships, and expand market penetration.

First Graphene intends to adopt a focused and capital-efficient commercial strategy for the geotextiles market, distinct from the prior approach taken by Ionic and Imagine. Rather than pursuing a fully integrated, turnkey geotextile manufacturing model, the Company will concentrate on its core strengths in graphene enhanced coatings formulation and production.

First Graphene will actively rebuild and strengthen the opportunity pipeline through collaborative arrangements, allowing the Company to remain focused on delivering high-performance, differentiated Graphene enhanced coating technologies.

Anticipated to settle within 90 days, the acquisition also includes an existing supply and client base, which First Graphene will look to restructure and strategically rebuild to assist continuity of supply into the marketplace.

Compelling growth opportunity

The integration of Ionic and Imagine's technologies is expected to:

• Broaden First Graphene's coatings and formulations capability
  
  
• Unlock new revenue streams in geotextile infrastructure and environmental markets
  
  
• Support scalable global expansion through established distribution channels

First Graphene Managing Director and CEO, Michael Bell, said:

"Successful acquisition of Ionic and Imagine represents a highly attractive opportunity to accelerate our growth in graphene geotextile coating formulations.

We are acquiring proven technologies, established applications and a pathway to revenue, all of which complement our PureGRAPH platform and existing capabilities.

This positions First Graphene to more rapidly deliver advanced material solutions into large, global markets where performance and sustainability are increasingly critical.

We see significant upside in integrating these technologies with our scalable production and expanding distribution network, particularly within the fast-growing geotextile and environmental infrastructure sectors."

Contact:

Emily Evans
Media and Content Manager
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