2-DTech awarded grant

RNS Number : 1614L

Versarien PLC

28 April 2020

 

28 April 2020

Versarien plc

("Versarien", the "Company" or the "Group")

 2-DTech awarded grant from Advanced Propulsion Centre

Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that its subsidiary, 2-DTech Limited ("2-DTech") has been awarded a grant of up to £104k from the Advanced Propulsion Centre ("APC"). The award is part of APC's £1 million-plus initiative to support 14 micro, small and medium-sized companies that are developing innovative low-carbon technologies to significantly reduce vehicle emissions.

This grant funding comes as part of a phased 18-month process through the APC's successful Technology Developer Accelerator Programme (TDAP), which is one of APC's funding streams that supports smaller organisations on their journey from concept to a viable commercial product. In addition to the financial backing, 2-DTech will also benefit from additional support to help identify routes to market, protect intellectual property and validate its technology.

Neill Ricketts, Chief Executive of Versarien commented:

"TDAP has selected what it sees as the most exciting SME technological innovators in the UK, supporting the efforts of those most capable of delivering future solutions for zero emission vehicles. Its support is a great endorsement of 2-DTech and the work it is doing to develop graphene-enhanced lightweight materials and powertrain structures."

TDAP Manager from the Advanced Propulsion Centre, Josh Denne said: "We are delighted to be working with 2-DTech as part of our Technology Developer Accelerator Programme (TDAP). At the APC we are committed to working with micro, small and medium organisations developing innovative low-carbon technologies. Companies such as 2-DTech play a crucial role in the automotive industry's net zero carbon future. By supporting them at the beginning of their journey we hope to ensure their innovative technology becomes commercially viable."

Enquiries:

Versarien Neill Ricketts, CEO Chris Leigh, CFO	[phone]
SP Angel Corporate Finance (Nominated Adviser and Joint Broker) Ewan Leggat, Soltan Tagiev	[phone]
Berenberg (Joint Broker) Mark Whitmore, Simon Cardron	[phone]
Yellow Jersey (Investor Relations)  Charles Goodwin Georgia Colkin Henry Wilkinson	[phone]

About Versarien

Versarien plc (AIM: VRS), is an advanced engineering materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries.  Versarien has seven active subsidiaries operating under two divisions:

Graphene and Plastics

2-DTech Ltd, which specialises in the supply, characterisation and early stage development of graphene products.  2-DTech is based at the Graphene Innovation Engineering Centre, a £60 million facility set up to work in collaboration with industry partners to create, test and optimise new concepts for the delivery of graphene to the market. www.2-dtech.com

AAC Cyroma Limited, which specialises in the supply of vacuum-formed and injection-moulded products to the automotive, construction, utilities and retail industry sectors.  Using Versarien's existing graphene manufacturing capabilities, AAC has the ability to produce graphene-enhanced plastic products.  www.aaccyroma.co.uk

Cambridge Graphene Limited, supplies novel inks based on graphene and related materials, using patented processes to develop graphene materials technology.  www.cambridgegraphene.com

Gnanomat S.L. ("GNA"), based in the Parque Cientifico Madrid, Spain, is a company capable of utilising Versarien's graphene products in an environmentally friendly, scalable production process for energy storage devices that offer high power density, fast recharging and very long lifetimes for use in electrical vehicles and portable electronics products.  www.gnanomat.com  

Versarien Graphene Inc - based in Texas, is the recently incorporated sales business for the UK's graphene products.

Hard Wear and Metallic Products

Versarien Technologies Limited has developed an additive process for creating advanced micro-porous metals targeting the thermal management industry and supplies extruded aluminium.  www.versarien-technologies.co.uk  

Total Carbide Limited, a leading manufacturer in sintered tungsten carbide for applications in arduous environments such as the oil and gas industry.  www.totalcarbide.com  

About the Advanced Propulsion Centre:

The Advanced Propulsion Centre (APC) accelerates the industrialisation of technologies which will help to realise net-zero emission vehicles. It is at the heart of the UK government's commitment to end the country's contribution to global warming by 2050.

Since its foundation in 2013, APC has funded over 110 low-carbon projects, involving more than 290 partners. The technologies developed in these projects are projected to save over 179 million tonnes of CO2, the equivalent of removing the lifetime emissions from 6.5 million cars.

APC projects have helped generate economic benefits too. Companies involved have seen turnover increases of 14-17%, with new jobs increasing by 8-10%. Together these have generated a 17% Gross Value Added uplift.

With its deep sector expertise and cutting-edge knowledge of new propulsion technologies, APC's role in building and advising project consortia helps projects start more quickly and deliver more value. In the longer term, its work to drive innovation and encourage collaboration is building the foundations for a successful UK industry.

For more information go to apcuk.co.uk or follow us @theapcuk on Twitter and Advanced Propulsion Centre UK on LinkedIn.

 

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