MOU with China Railway

RNS Number : 4526J

Versarien PLC

05 December 2018

 

5 December 2018

Versarien plc

("Versarien" or the "Company")

MOU with China Railway

Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with China Tiesiju Civil Engineering Group Co Ltd. ("CTCE"), a subsidiary of China Railway Group Limited ("CRG").

CRG is one of the world's largest construction and engineering contractors and is listed on the Shanghai and Hong Kong Stock Exchanges.  CTCE is specifically focused on railway, bridge, tunnel and highway infrastructure engineering and has over 23,000 employees.  It is active in China and overseas, including in Asia, Africa, Latin America and the Middle East. 

The cooperation between the parties is intended to explore the applications for graphene specific to CTCE's needs and the options to jointly establish manufacturing capability in China for graphene enhanced products. It will also include the research and development of applications for graphene within, but not limited to, the following areas:

·     Anticorrosive and fireproof coatings for the protection of engineering structures;

·     Heat conductive and heating materials for the temperature control of structures;

·     Sensors for the mechanical monitoring of engineering structures;

·     Special engineering plastics;

·     Special engineering rubber; and

·     Asphalt for road asphalt mixtures.

Subject to the satisfactory completion of negotiations it is envisaged that CTCE will provide funding for any manufacturing venture in a structure to be agreed.

Neill Ricketts, CEO of Versarien, commented: "We are delighted to have entered into this MOU with a subsidiary of one of the world's largest construction and engineering contractors.

"This relationship with CTCE is complimentary to those we have already entered into in China and others that we are in discussions with.  We have a strategy to develop a number of relationships with industry leading partners in China across the wide variety of sectors where the application of graphene can prove beneficial.

"I look forward to reporting on progress with our ever growing number of collaboration partners and entering into further relationships to aid the commercialisation of Versarien's graphene."

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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