Collaboration Agreement with AXIA Materials

RNS Number : 2241Y

Versarien PLC

20 August 2018

 

Versarien plc

("Versarien" or the "Company")

Collaboration Agreement with AXIA Materials

Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has entered into a collaboration agreement with AXIA Materials Co., LTD ("AXIA") to develop graphene enhanced composite materials and smart graphene devices using both Versarien's proprietary Nanene graphene nano platelets and proprietary Graphinks graphene inks.

AXIA, which is based in South Korea, develops advanced thermoplastic composite material solutions under its LiteTex brand for the automotive, sports, electronics and building sectors, and produces pre-fabricated buildings under its Pixel Haus brand.

Versarien will initially work with AXIA on two projects:

-    Smart Buildings - Versarien's Graphinks will be used to incorporate sensors and thermal devices into composite building panels and Versarien's Nanene will be used to develop graphene enhanced materials which will be used in structural composites.

-   Electric Vehicle applications - Versarien's Graphinks will be used to add smart systems to a composite electric vehicle battery tray and Versarien's Nanene will be used to improve the properties of the composite structure.  The battery tray is being developed with automotive battery system manufacturers for use by global automotive OEMs.

The relationship with AXIA developed from the recent visit to South Korea by Versarien management with Innovate UK and the European Enterprise Network's Global Business Accelerator Programme.  This relationship will be supported by the UK Government's Department for International Trade ("DIT").

Commenting Justin Jin, CEO of AXIA, said: "As a composite materials development and manufacturing company our goal has been to develop multi-functional solutions which are integrated and embedded into our structural materials.  With Versarien's Graphinks solutions we believe that we can integrate sensors and electric circuits into composite building materials for smart houses and with Nanene ensure rapid heat dissipation in integrated electric vehicle battery tray systems and improve composite building materials.  We believe there will be many more opportunities to utilise Versarien's materials technology to bring game changing solutions to the market.  We are very excited to start working with Versarien."

Neill Ricketts, CEO of Versarien, commented: "We are delighted to have signed this agreement with AXIA, which demonstrates the global demand for Versarien's graphene products.

"We look forward to working with AXIA and their customers to develop a variety of graphene enhanced systems and technologies.  The relationship with AXIA is an important step for Versarien and illustrates the wide range of applications that Versarien's Nanene and Graphinks can be applied to.

"We are grateful to the UK Government for their support to secure this agreement."

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 AXIA Materials

Since its foundation in 2000, AXIA (http://www.litetex.com/) has been developing functional polymers and high strength materials based on its patented and proprietary matrix resin and composite process technology.  AXIA's composites are able to be processed as "thermoforming" with few minutes of process time and zero VOC emissions.  AXIA is actively working on new modular building systems under the Pixel Haus (https://www.pixelhaus-composite.com) name and developing structural parts for the automobile, military, building, and transportation industries.

The company is headquartered in Hwaseong, South Korea.

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  

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 will have 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  

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 

 

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