Increase in Gross Margins
Adjusted gross margins increased by 150 basis points year-over-year, reaching 22.4% during the quarter, driven by manufacturing efficiency improvements and higher sales of graphene powder.
Positive EBITDA in Battery Sales and Materials Segment
The Battery Sales and Materials segment reported a positive EBITDA of $102,000 compared to a loss of $688,000 last year, mainly due to R&D grants and lower spending.
Expansion and Investment in the U.S.
Expansion in North Carolina is progressing with equipment expected to start arriving by May, aiming for production by summer, supported by booked contracts expected to generate over $10 million annually.
Graphene Powder Commercialization
Graphene powder sales are expected to significantly increase, with promising results from drilling fluid and insulation foam customers, potentially leading to substantial orders in the future.