‘Wonder material’ graphene is flexing its muscles again – this time in the maritime industry.

An ASX-listed developer of the material, First Graphene (ASX:FGR) has touted it as a solution for space-bound satellite components or fire-proof paint, but has today signed an agreement for maritime use.

The deal with port operations provider Engage Marine is to developer graphene-enhanced coatings and ropes.

The two companies will also work together to make a better version of underwater hull paint on ships (known as anti-fouling), as well as spray coatings to reduce fire risk and noise on ship bulkhead doors and engine rooms and graphene-enhanced polypropylene ropes.

Shares in the company were trading up 3 per cent in morning trade at 17c.

First Graphene (FGR) shares over the past three months.
First Graphene (FGR) shares over the past three months.

The developments could increase performance and create a longer cycle between reapplications of paint for up to five years instead of the current three-year standard.

Painting a ship’s hull is one of the most expensive but important activities when dry docking a ship. It can cost as much as $10/sq m or about $300,000 for a typical ship.

If it’s successful, they’ll sell the new paint to other marine organisations.

It comes after the commissioning of First Graphene’s Henderson Commercial Graphene Facility in WA earlier this year.

Now, its looking to add graphene to existing product ranges through research in conjunction with universities and organisations like Engage Marine.