Battery Technology Update

RNS Number : 1599T

Versarien PLC

02 July 2018

 

Versarien plc

("Versarien" or the "Company")

Battery Technology Update

Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to provide an update on its activities in relation to graphene enhanced power storage devices such as batteries and supercapacitors.  The primary goal of incorporating graphene into these devices is to significantly increase power storage capacity and reduce charging times.

Versarien has been working with WMG (Warwick Manufacturing Group) and their partner companies and scientists at the universities of Warwick and Cambridge to collaborate on the production of power storage devices such as batteries and supercapacitors using Versarien's proprietary Nanene graphene nano platelets.  Significant advances have been made through incorporating the Company's high quality graphene into these devices and the Company looks forward to commercial products becoming available in due course.

The relationship with WMG has now been supplemented by a number of other agreements that provide Versarien with access to both leading technology providers and manufacturing expertise, both in the UK and overseas, including China.

Zap&Go

Versarien is pleased to announce that it has entered into a collaboration agreement with ZapGo Ltd ("Zap&Go"), a high technology business focussed on developing a new class of energy storage device with considerable functional improvements over current commercially available supercapacitors.  Zap&Go's technology and growing patent portfolio is in part derived from Oxford University research, and in part developed independently by Zap&Go's own scientists.  Zap&Go work with a number of Chinese partners to manufacture their technology.

Versarien and Zap&Go have agreed to collaborate on research and development projects involving the incorporation of Versarien's proprietary Nanene few layer graphene nano-platelets and other Versarien supplied two-dimensional materials into Zap&Go's supercapacitor type devices with a view to enhancing their performance, specifically through the increased electrical conductivity of the supercapacitor cells.

Flexibat

The Company, through its subsidiary Cambridge Graphene Ltd, is pleased to be part of the Flexibat consortium that has recently been awarded £1.2 million of grant funding from Innovate UK as part of a £1.5 million project to develop and bring to market graphene enhanced, thin, flexible printed batteries for electronic wearable and IoT (Internet of Things) devices.  From the £1.2m of grant funding, Cambridge Graphene will directly receive approximately £145,000 and indirectly benefit from the funding provided to the other consortium members.

The Flexibat project aims to provide much thinner and more flexible batteries, with higher energy densities, than those currently available.  These are expected to be straightforward to manufacture using roll-to-roll printing processes.  The initial target market will be for healthcare and wellbeing wearables.

Chinese Graphene Order

In addition to these relationships, the Company is pleased to report that it has received its first small initial order for Nanene graphene nano platelets from a Chinese automotive battery manufacturer for their technical evaluation.

Neill Ricketts, CEO of Versarien, commented: "Improved battery technology is a key area where the addition of high quality graphene can provide significant benefits.  Alongside our work and collaborations in the areas of graphene enhanced composites and plastics, battery technology is a key focus for Versarien.

"We are pleased to have entered into these new collaborations and to have received our first Nanane order from a Chinese battery manufacturer.  In particular, Zap&Go are at the forefront of developing ultra fast charge carbon-ion cells that can replace slow charging lithium ion batteries in a wide variety of applications from cordless and mobile devices, to infrastructure and transport.  We anticipate that the addition of our graphene to their already very innovative products will bring significant enhancements.  The market potential for their technology is enormous.

"Our strategy is to work with partners who can provide both technology and manufacturing expertise with a view to ensuring that Versarien is placed at the heart of the rapidly developing graphene enhanced battery ecosystem."

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 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 

 

END

 

 

NRAUGURUMUPRGAG