First Graphene Expands U.S. Presence and Defense Capabilities with Mito Acquisition

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First Graphene Ltd. (FGR), headquartered in Sydney, Australia, has signed a definitive agreement to acquire all product lines, manufacturing assets, and intellectual property of Mito Material Solutions Inc., a U.S.-based company located in Indianapolis, Indiana.

This deal broadens First Graphene’s expertise in functionalizing graphite, graphene, and graphene oxide—materials that are rapidly gaining traction in both commercial and defense sectors to boost the performance of advanced additives. The acquisition also provides FGR with an operational and commercial foothold in the United States, enabling the company to unlock new revenue streams, deepen customer relationships, and forge strategic alliances.

Mito’s portfolio—comprising the E‑Go, Ligra, Omega, and Delta lines—covers thermoset and thermoplastic composites, coatings, liquids, resins, and nanomaterial additives. Integrating these assets enriches FGR’s material offerings, particularly in defense-relevant areas such as perovskite solar cells for long‑endurance drones (in collaboration with Halocell), high‑strength composites, advanced carbon‑fiber solutions, and cutting‑edge conductive and EMC shielding additives.

Mito’s materials are in use by leading U.S. brands such as Parlor Skis, Folsom Custom Skis, and St. Croix Rods, all of whom seek premium performance enhancements. With eight years of R&D and product development, Mito has already brought market‑ready materials to production and sales. FGR will build on its own manufacturing know‑how to streamline future R&D and production, reducing overhead while opening possibilities for toll manufacturing across North America.

Michael Bell, FGR’s Managing Director and CEO, said, "Acquiring Mito’s assets marks a pivotal entry into the U.S. market, instantly broadening our offerings in graphene oxide and functionalized graphene—two high‑growth areas in advanced materials. Together with our PureGRAPH technologies, this deal delivers a comprehensive, globally competitive graphene portfolio."

The transaction will be executed through a cash‑and‑stock arrangement, primarily supported by a two‑tranche issuance of FGR shares that will be released upon meeting specific Mito product sales milestones over the next 24 months.

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