Collaboration with Chinese Aerospace Company

RNS Number : 8931K

Versarien PLC

19 December 2018

 

19 December 2018

Versarien plc

("Versarien" or the "Company")

Collaboration with Chinese Aerospace Company

Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with a large state-owned Chinese aerospace company (the "Partner")

The Partner is, mainly engaged in the research, design, manufacture and operation of various aerospace systems.

The MOU details the parties desire to collaborate and ultimately enter into a strategic cooperation covering research, development and manufacturing in order to accelerate the industrialisation and market for graphene and other Versarien 2D materials, including Hexotene, in the Chinese aerospace sector.  This will include exploring their uses within the fields of, amongst others, microwave and electromagnetic radiation shielding, heat dispersion coatings, 3D printing and flexible wearable devices.

Neill Ricketts, CEO of Versarien, commented: "We are delighted to have reached this agreement with our latest Chinese Partner.

"The aerospace sector is at the forefront of developing advanced materials to cope with demands for attributes such as lightness, high strength, conductivity, temperature resistance and corrosion resistance.  We believe that the incorporation of Versarien's graphene and other 2D materials can provide significant benefits and we look forward to collaborating with the Partner to develop new and innovative products.

'This agreement is the latest in a series that we have entered into with parties in China and I would like to take this opportunity to again thank both the Chinese and UK governments for the support and assistance they are providing."

Enquiries:

Versarien Neill Ricketts, CEO Chris Leigh, CFO	01242 269 122
Arden Partners (Nominated Adviser and Broker) John Llewellyn-Lloyd 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 six 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

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, almost instant recharging and very long lifetimes for use in electrical vehicles and portable electronics products. www.gnanomat.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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