Business

Haydale Reveals Financial Results From 2021 and Plans Going Forward

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BUSINESS

Haydale Reveals Financial Results From 2021 and Plans Going Forward

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Haydale is a graphene developer based in the UK, and specializes in processing and holding nano-materials.

According to their results, while their revenue has reached £2.9 million, which is 2% lower than the previous year, and their cash outflow was reduced by 52% to £1.58 million, their overall net loss went down 15% to £3.41 million.

In terms of their short-term revenue, they’re proceeding with caution due to the difference between this year’s and last year’s financial reports. However, when it comes to the long-term, they’re not at all worried; in fact, they’re rather optimistic because of one ace that they have up their sleeve: the ordering of a larger HT1400 plasma reactor. This larger reactor will significantly boost production efficiency, and hopefully they will even be able to reach an industrial level come 2022.

Photo by Markus Winkler on Unsplash

Lana Thomas

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