Haydale Graphene Industries PLC (LON:HAYD) has signed a new joint development deal which will see a thermosetting resin, based on the group’s functionalised graphene, used to develop class-leading pipeline solutions.

The new partnership is with Flowtite Technology AS, part of the Saudi Arabian Amiantit Company, which Haydale highlighted is the world's largest glass fibre reinforced plastic (GRP) pipe company.

Amiantit has delivered more than 6mln metres of pipe across five continents, Haydale added, and the group has annual revenues in excess of US$700mln.

A joint research programme will now be conducted at Amiantit's R&D headquarters in Norway.

It will be a two year arrangement and, if the initial trials are successful, it is anticipated that Amiantit will take exclusive worldwide rights to develop its unique technology in next generation GRP pipe systems for water and sewerage applications.

"We are delighted to be working with Amiantit, the global leader and leading innovator in its sector,” said Ray Gibbs, Haydale chief executive.

“This is a very significant market internationally and we couldn't hope for a better partner to validate our technology and create superior pipes for the water and sewerage industry."

Meanwhile Nick Croft, Amiantit Europe managing director, said: "Amiantit is always seeking to increase customer value through superior design, technology and quality.

“We focus on enhancing the hydraulic, mechanical, thermal and electrical properties of our pipelines.

“Haydale brings proprietary materials technology including functionalised graphene and carbon nanotubes. These materials have already demonstrated significant performance benefits within composite materials."