Today's trading session has been a wild ride for the First Graphene Ltd (ASX: FGR) share price.

Shares in the company dumped nearly 9% earlier today. After opening at 29 cents, the First Graphene share price hit an intraday low of 26.5 cents.

At the time of writing, shares in First Graphene have recovered to be less than 2% lower for the day.

Lets take a look at what's been moving the First Graphene share price.

First Graphene releases whitepaper

Earlier today, First Graphene released a whitepaper on its patented Hydrodynamic Cavitation Process.

According to the company, the report confirmed the technology's ability to convert petroleum feedstocks into products for clean energy storage and generation.

First Graphene's research team successfully demonstrated that the novel cavitation technology could efficiently produce graphite materials in a single step process. According to the whitepaper, the only by-product of the process was "green" hydrogen.

First Graphene noted that high purity graphite is in demand for use in the production of battery anodes. The company predicts strong growth and highlighted the potential to evolve production to a commercial scale.

First Graphene signs distribution deal

In addition to today's announcement, First Graphene also announced a distribution agreement yesterday.

The agreement will allow Auckland-based company GtM Action to exclusively distribute First Graphene's PureGRAPH products. GtM Action will also have the right to develop commercial opportunities for graphene technology.

According to First Graphene, the partnership with GtM Action is focused on extending the company's sales reach and the awareness of graphene technology.

In addition to developing commercial opportunities in New Zealand, the company also aims to expose its PureGRAPH product to the concrete industry globally.

More on First Graphene

First Graphene is a supplier of high-performing, graphene products. The company has a robust manufacturing platform based on the supply of high-purity raw materials.

First Graphene recently provided an update on the commercial use of its flagship PureGRAPH product line.

At the time of writing, shares in First Graphene are slightly lower for the day and relatively flat for 2021.

The post Shares in First Graphene (ASX:FGR) are on a wild ride today appeared first on The Motley Fool Australia.

The First Graphene Ltd (ASX: FGR) share price has made a strong comeback today. This comes after the company announced that it has entered a non-binding memorandum of understanding (MoU) with Gerdau S.A.

During most of the day, the graphene producer's shares were trading in the red, as low as 23.5 cents. However, the company's latest news has given investors an upbeat perspective with its shares bouncing to 25.5 cents, up 6.2%.

What's moving the First Graphene share price higher?

The First Graphene share price is rocking higher today after releasing details of its MoU to penetrate the Americas.

According to its release, the MoU will look into Gerdau to distribute First Graphene's products in mutually agreed economic sectors and business areas. This includes territories such as Brazil, South America, and potentially the United States.

Furthermore, the MoU will allow both companies to set up formal proceedings to negotiate and establish a commercial agreement. Under the deal, First Graphene will provide Gerdau with its knowledge and technology for use in different Graphene applications. In return, Gerdau will invest and develop end-use applications and become the exclusive distributor for the company's products.

Quick take on Gerdau

Brazil largest steel producer, Gerdau is a leading manufacturer of long steel in the Americas region. The company has steel mills located in Argentina, Canada, Colombia, Mexico, the United States, Brazil, and many others.

It transforms 13 million metric tonnes of metal scrap heap into steel every year, used across an array of industries.

Management commentary

First Graphene CEO Mike Bell welcomed the partnership, saying:

We are pleased Gerdau recognises the enormous commercialisation opportunities graphene offers industry with the creation of a dedicated graphene division.

Gerdau's recognition of First Graphene as a key global producer is testament to the advances made by First Graphene in the commercialisation of this disruptive nanomaterial.

The association with Gerdau, a world leader in the long steel and specialty steel markets with a very strong position in the Americas, will undoubtedly accelerate the use of graphene across a wide range of applications.

Gerdau Graphene business unit general manager Alexandre Corrêa added:

We are enthused about the opportunities available to Gerdau in the graphene industry in the Americas. We have selected First Graphene as a partner because of their robust supply capability, product quality and technical expertise.

The First Graphene share price has accelerated by more than 88% over the past 12 months.

The post Here's why the First Graphene (ASX:FGR) share price is rebounding today appeared first on The Motley Fool Australia.