Versarien PLC Planned Jinan Manufacturing Centre Update
November 19 2018 - 2:00AM
RNS Non-Regulatory
TIDMVRS
Versarien PLC
19 November 2018
Versarien plc
("Versarien" or the "Company")
Planned Jinan Manufacturing Centre Update
Versarien plc (AIM: VRS), the advanced materials engineering
group, is pleased to announce that, further to the announcement
made on 15 January 2018, it has entered into a Memorandum of
Understanding ("MOU") with Jinan High-tech Financial Investment
Co., Ltd ("JHFI") in connection with the Company's ongoing plans to
establish a manufacturing centre in the Jinan Innovation Zone,
Shandong Province, China.
The MOU covers the plans for Versarien and JHFI, together with
other parties in China as may be agreed, to establish a joint
venture for the manufacture and sale of the Company's Nanene,
Graphinks and other related graphene products in Jinan. Subject to
the satisfactory completion of negotiations it is envisaged that
JHFI will provide funding for the venture in a structure to be
agreed.
The MOU, signed by Li Hao, Chairman of JHFI, included the
following statement: "JHFI specially organised experts to hold a
demonstration meeting with regard to graphene project. Experts at
the demonstration meeting consider that the graphene technology of
Versarien has certain world leading position and can be introduced
in China to strenghten technical co-operation between China and the
UK".
Neill Ricketts, CEO of Versarien, commented: "We are very
pleased to be making progress in establishing a Chinese graphene
manufacturing base for Versarien in Jinan and I am very grateful
for the significant support we are continuing to receive from both
Chinese governmental and industrial parties.
"Before entering into this MOU JHFI have undertaken significant
analysis of our graphene products and we are delighted to note that
they consider them to be world leading.
"It is not intended that this will be our sole base in China, as
the Chinese opportunity is so large, but our planned venture in
Jinan is intended to form the centre of the "Qilu* Graphene Valley"
and pave the way to Versarien establishing a world class base in
the Asian region.
"We are continuing detailed discussions with a number of other
parties in China and assessing opportunities in other countries
across the world. It is important for us to have facilities close
to manufacturing centres worldwide and we will continue to pursue
this strategy. I look forward to providing further updates as
matters progress."
* Qilu is the ancient name for Shandong Province, of which Jinan
is the capital city
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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END
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