First Graphene Ltd (ASX:FGR, OTCQB:FGPHF) has secured its first production order from US-based Flux Footwear, marking the company's entry into the global sporting and athletic footwear market with its PureGRAPH graphene products.
Flux will incorporate PureGRAPH into its athletic and leisure footwear range, including its Graphene XT performance gym shoes, targeting improvements in strength, durability, abrasion resistance, grip and flexibility.
The order is First Graphene's first commercial production application in sporting footwear and expands its existing presence in the broader footwear sector.
PureGRAPH moves into sports footwear
Flux already uses graphene across its Graphene-Pro footwear range and will progressively transition to PureGRAPH as production requirements increase.
First Graphene said the initial order establishes a pathway to recurring supply as Flux expands production of its graphene-enhanced footwear.
The company has previously commercialised PureGRAPH in work and safety footwear through collaborations with Australian manufacturer Steel Blue and Indonesian mining boot manufacturer PT Alasmas Berkat Utama.
The Flux order extends that technical and commercial experience into the substantially larger sporting, athletic and leisure footwear market.
While the initial order is not financially material, First Graphene said it demonstrates the ability to transfer a proven graphene application into a new customer, product category and geographic market.
The global sports shoes market is forecast to exceed US$212 billion by 2035, providing a sizeable addressable market for advanced materials designed to improve product longevity and performance.
Managing director and CEO Michael Bell said the order represented another step in converting development programs into commercial revenue.
"This commercial agreement with a globally renowned company will provide potential pathways to recurring PureGRAPH production demand while also further expanding our presence in the US," Bell said.
Next steps
First Graphene will support Flux as it progressively incorporates PureGRAPH across its graphene-enhanced footwear range.
The company will also look to build recurring production demand from the relationship while pursuing further sporting and leisure footwear applications using the formulation knowledge developed through its existing safety and industrial footwear programs.
First Graphene continues to target commercial applications for PureGRAPH across large global markets including composites, plastics, coatings, adhesives, cement and concrete, and energy storage.
