TIDMVRS
RNS Number : 8820O
Versarien PLC
04 February 2019
4 February 2019
Versarien plc
("Versarien" or the "Company")
China Update
Versarien plc (AIM: VRS), the advanced materials engineering
group, is pleased to provide an update on the Company's activities
in the People's Republic of China.
During the last two months of 2018 the Company announced the
signing of a number of Memoranda of Understanding ("MOU") with
global manufacturers based in China, together with a Framework
Agreement with the Qingdao Municipal Bureau of Commerce in Shandong
Province, covering cooperation between the parties in the fields of
graphene research, development and industrialisation.
The business model adopted by Versarien is to enter into
collaboration projects with partners and where possible to utilise
the facilities and relationships available at the Graphene
Engineering and Innovation Centre in Manchester ("GEIC") as a
result of the Company's Tier one membership. In parallel with this
strategy, the Company also seeks to enter into or create one or
more joint ventures arrangements with those partners incorporating
a local manufacturing plant. A licence over the Company's
technology will be granted to each joint venture in conjunction
with strategic investment by the partner.
The Company is pleased to confirm that it has achieved positive
progress in negotiating more specific terms with its various
Chinese partners and has also signed an additional MOU with another
of China's Fortune 500 building materials companies.
The Company and its various current Chinese partners have agreed
to progress the use of Versarien's graphene powders and inks for
the following applications:
-- Flame-retardant applications - specifically the performance
improvement of polyethylene substrate flame retardant products, to
improve material burning crust performance, meeting the high-grade
burning standard for cable sheath insulation.
-- Conductive shielding applications - specifically used as a
conductive material in the production of shielding materials. These
are designed to replace traditional conductive carbon black and
meet the application requirements of high-conductivity
semi-conductive shielding materials.
-- Thermally conductive materials - specifically the application
of heat transfer functionalisation of synthetic materials.
-- The development and manufacture of new generation graphene heaters using graphene inks.
-- The development of graphene-enhanced winter sports equipment,
specifically targeted at the 2022 Winter Olympic Games, to be held
in Beijing.
-- The development of graphene-enhanced smart wearable devices,
including sensors and smart earphones.
l The incorporation of the Company's subsidiary, Gnanomat
S.L.'s, proprietary nanomaterials into supercapacitors and
lithium-ion batteries.
-- The incorporation of graphene into concrete, anti-corrosion
coatings, 3D printing of concrete and certain rail projects.
-- The incorporation of graphene in solar energy, photovoltaic cells and smart buildings.
The Company is pleased to also confirm the quality of its Nanene
graphene nano platelets has been satisfactorily tested by the
Chinese National Graphene Product Quality Supervision and
Inspection Centre (NGSIC) in Wuxi.
Neill Ricketts, CEO of Versarien, commented: "We are very
pleased with the further progress we are making in China. We have
already secured partnerships with a number of leading manufacturers
across a variety of sectors, together with securing formal
relationships with Chinese provincial government bodies.
"Since entering into these relationships in the later part of
last year the rate of progress has been impressive and we are now
at the stage where we have defined work programmes with a number of
the partners. In conjunction with the GEIC and the other facilities
and expertise available to the Company we are confident that we can
make rapid progress this year with the commercialisation of
graphene enhanced products both in China and globally with our
partners."
Enquiries:
Versarien
Neill Ricketts, CEO
Chris Leigh, CFO +44 (0)1242 269 122
Canaccord Genuity (Nominated
Adviser and Broker)
Bobbie Hilliam
Emma Gabriel +44 (0)20 7523 8000
IFC Advisory (Financial PR
and IR)
Tim Metcalfe
Graham Herring
Heather Armstrong +44(0)20 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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