Agreement with Global Chemical Major

RNS Number : 2194Y

Versarien PLC

04 December 2017

 

Versarien plc

("Versarien" or the "Company")

Agreement with Global Chemical Major

Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has signed an  agreement with a US headquartered global chemical supplier  (the "Partner"), which will allow to both companies to begin collaborating across a number of projects.

The Partner, a Fortune 100 company, will use Versarien's proprietary Nanene few layer graphene nano-platelets, along with other 2D products manufactured by Versarien, in different potential applications. Both groups will work together on research, development and testing of compounded materials, with the objective of replacing incumbent additives across different chemical variants to improve material performance.

Specifically, this partnership gives Versarien and its Partner the opportunity to evaluate and process samples for speciality packaging applications and barrier technology, as well as allowing both parties to better understand the future opportunities of further agreements.

Neill Ricketts, CEO of Versarien, commented: "This agreement is another significant  collaboration we have agreed to date. We look forward to working closely with our Partner to test and develop materials containing both our high quality Nanene and other 2D materials we are developing.

"This agreement with one of the world's largest chemical and specialist material groups further demonstrates that Versarien is rapidly establishing itself as the go-to supplier of high quality graphene and other potentially industry disruptive 2D materials.  The fact that we are able to offer not just high quality product, but have significant research capabilities in conjunction with the Universities of Manchester and Cambridge, gives us a strong competitive position and is putting us at the forefront of graphene's commercialisation.

"We continue to work on a number of other agreements, with similar market leading companies worldwide and I look forward to providing further updates on our progress during this exciting time for Versarien."

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
WH Ireland (Nominated Advisor)        Mike Coe Ed Allsopp	0117 945 3470
IFC Advisory (Financial PR and IR)   Tim Metcalfe Graham Herring Heather Armstrong	0203 053 8671

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, which supplies novel inks based on graphene and related materials, using patented processes and develops graphene materials technology for licensing to manufacturers.  www.cambridgegraphene.com  

Thermal and Hard Wear Products

Our hard wear parts business has successfully relocated to its new premises and has been fully operational for the period under review.  I am pleased to report that it has returned to profitability and is diversifying away from its traditional oil and gas business into sectors such as aerospace, where we reported its largest single order, which was in excess of £200,000.  Since then we have continued to receive additional aerospace orders from other customers, albeit on a smaller scale.

As stated in the last annual report our copper foam still generates some interest with enquiries still being received.  However, our technology focus is on graphene where we feel the most reward lies.

 

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