Agreement with Arrow GreenTech

RNS Number : 7064Q

Versarien PLC

08 June 2018

 

Versarien plc

("Versarien" or the "Company")

Agreement with Arrow GreenTech

Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has signed a wide ranging agreement with Arrow GreenTech Ltd ("Arrow GreenTech"), an Indian listed company, covering a variety of the Company's graphene products and activities (the "Agreement").

Arrow GreenTech is an India-based holding company who are a leading global manufacturer of cast water-soluble film, providing solutions and applications for sectors including agrochemicals, construction, chemical, embroidery, health & hygiene and 3D printing.  Additionally, Arrow GreenTech have patented technology that is used in secure products such as passports, bank notes and security paper.

In summary the Agreement covers four main areas:

·     Versarien and Arrow GreenTech have entered into an exclusive commercial arrangement for the supply of the Company's propriety Graphinks (graphene inks) to Arrow GreenTech, for onward supply to the water-soluble film market world-wide;

·     Versarien and Arrow GreenTech have agreed to collaborate on exploring the potential benefits of using graphene within security threads for banknotes and passports on a named-exclusive basis;

·     Arrow GreenTech will act as the Company's exclusive agent for the supply of graphene to the tyre and associated rubber sectors in India. This will be subject to the terms of a separate sales agency agreement; and

·     Versarien will grant Arrow GreenTech the right of first refusal to enter into discussions regarding any future plans for the Company to create a manufacturing facility in India. Those discussions may include the creation of a joint venture company or the right to operate under a license granted from the Company.

Commenting Shilpan Patel, Chairman and Managing Director, Arrow GreenTech, said: "Graphene is the new wonder material of this century and Arrow GreenTech is happy to be collaborating with the leader in this technology, creating stakeholder value for both Arrow GreenTech and Versarian.  Arrow GreenTech is particularly interested in embedding graphene in cast PVA films and sees a large number of potential end uses in various industries.  Graphene is an environmentally friendly product, especially when compared to carbon black, and maximum environmental care has always been the core of our company."

Neill Ricketts, CEO of Versarien, commented: "We are delighted to have entered into this Agreement with Arrow GreenTech, providing both a strong channel for our Graphinks into the fast growing water soluble film market and, more widely, a strong partner for Versarien in India.

"In particular, the use of water soluble, bio compostable thin films are fast growing and Arrow GreenTech have globally applicable technology.  With the addition of our Graphinks we aim to enable the creation of new and innovative solutions for a variety of end markets.

"We look forward to providing further updates as our relationship with Arrow GreenTech develops alongside the others we are establishing globally."

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Enquiries:

Versarien Neill Ricketts, CEO Chris Leigh, CFO	01242 269 122
Arden Partners (Nominated Adviser and Broker) Chris Hardie Dan Gee-Summons	020 7614 5900
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong	020 3934 6630

About Arrow GreenTech

Arrow GreenTech Limited is an India-based holding company. The Company's business includes the manufacture of cast water-soluble film and bio-degradable products, as well as a number of other patented technologies.  Its water-soluble film, Watersol, has various applications in industries ranging from agrochemicals, construction, chemical, embroidery, health and hygiene to water transfer printing, including 3D printing. Its Klenz Pro brand provides eco labelled cleaning and hygiene chemicals.  It exports its products to Latin American, European and Asian markets.

Arrow GreenTech Ltd. is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India. It has its manufacturing units in India and in the United Kingdom via its subsidiary Arrow Green Technologies (UK) Limited.

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 five subsidiaries operating under two divisions:

Graphene and Plastics

2-DTech Ltd, which specialises in the supply, characterisation and early stage development of graphene products. www.2-dtech.com  

ACC Cyroma Ltd, 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 will have the ability to produce graphene-enhanced plastic products.  www.aaccyroma.co.uk  

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

Thermal and Hard Wear Products

Versarien Technologies Ltd. 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 Ltd, a leading manufacturer in sintered tungsten carbide for applications in arduous environments such as the oil and gas industry. www.totalcarbide.com 

 

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