A graphene light bulb, the first commercial product to be made from the “miracle material”, is to go on sale later this year.

The dimmable bulb is expected to cut energy costs by 10 per cent and last for years, thanks to the material’s super conductivity, but still cost the same or less than current LEDs.

Its filament will be coated in graphene, which is 200 times stronger than steel but one million times thinner than a human hair.

The bulb is being developed by Graphene Lighting, a company with links to Manchester University, where the one-atom thick material was developed.

Professor Colin Bailey is deputy vice-chancellor at Manchester and a director of the company.

“The graphene light bulb will use less energy. We expect it to last longer. The manufacturing costs are lower and it uses more and more sustainable components,” he told the BBC.

Chancellor George Osborne opened the university’s National £61 million Graphene Institute last week and met Sir Kostya Novoselov, a co-discoverer of the material.

What could graphene be used for Show all 8 1 /8 What could graphene be used for What could graphene be used for Sensitive medical sensors Graphene, strands of DNA, and fluorescent molecules sensitive to particular diseases can be combined to create sensors that diagnose diseases with sensitivity down to a single atom Creative Commons What could graphene be used for Green cars Graphene is incredibly conductive as well as relatively stable and strong with enormous surface area. It has a potential to be the ideal electrode material, which could enhance electric batteries, hydrogen fuel cells, and 'ultracapacitors' for green cars Getty What could graphene be used for Better transport Graphene is a reallystrong and lightweight material. It mixes well with all sorts of plastics such as epoxy to make composites which have enormous strength-to-weight ratios. It can be used to produce things such as wind turbine blades. These composites could also be used in creation of safer transport, where they replace metals in the manufacture of aircraft and cars, making them lighter and more fuel-efficient Creative Commons What could graphene be used for Flexible displays The graphene products can be used in production of electronic paper, bendable personal communications devices and flexible touch screen displays Creative Commons What could graphene be used for Ultrafast computing Most of computers and electronic devices are built by stacking silicon semiconductors and other elements on top of one another. By using graphene in a single layer formation researchers expect to get much faster performance out of tiny, nano-scale transistors such as a microchip used in a hearing aid Rex What could graphene be used for Artificial retinas Graphene could in future be used to make artificial retinas as it conducts electrical signals really well and is also chemically sensitive, as well as being flexible and strong in the same time Creative Commons What could graphene be used for Cheaper solar power Graphene could be used to make solar cells out of carbon instead of more costly materials. That would lower the costs of solar power and simplify the manufacturing process, making clean energy more affordable Creative Commons What could graphene be used for Explosives detection Graphene's chemical sensitivity could also make the material effective at detecting explosives. Sensors coated with graphene can detect the presence of low levels of vapors from chemicals used in explosives, such as ammonia Getty

Mr Osborne said that the centre would put the UK in “pole position to lead the world in graphene technology”.

Russian scientists Sir Kostya and Sir Andre Geim first isolated graphene in Manchester in 2004 and the pair won a Nobel Prize for Physics as a result of their work.

More than 35 companies from around the world have already partnered with the university to work on graphene projects.

While it is not an easy material to produce in large quantities, a number of companies are attempting to manufacture it, as graphene has a large number of potential uses.

The tennis racquet manufacturer Head has used it in carbon fibre racquets and a company is working to use it in dental bridges.

One area that graphene could revolutionise is medicine. The rise of nanotechnology will allow it to be used in treatments for cancer and conditions such as Parkinson’s.