Versarien PLC US Graphene Order (7403D)
June 28 2019 - 2:01AM
UK Regulatory
TIDMVRS
RNS Number : 7403D
Versarien PLC
28 June 2019
28 June 2019
Versarien plc
("Versarien" or the "Company")
US Graphene Order
Versarien plc (AIM: VRS), the advanced materials engineering
group, is pleased to announce that the Company has secured its
first graphene order from a US based company, operating in the oil
and gas exploration sector (the "Customer").
This order is for 12kg of Versarien's high purity graphene nano
platelets ("GNP-HP") integrated into a polymer masterbatch by the
Company and follows successful laboratory testing and industrial
trials by the Customer. The Versarien GNP-HP enhanced material will
be used by the Customer in down-hole drilling components for their
initial scale up process. If the scale up is successful, additional
significantly larger orders are anticipated.
Neill Ricketts, CEO of Versarien, commented: "We are very
pleased to have secured this order following extensive testing of
our material by the Customer. It is validation of both the benefits
our graphene can deliver in this application and our focus on
building our US customer base.
"The oil and gas exploration sector is constantly looking for
new technology to enhance drilling activities, allowing new sources
to be reached more efficiently. This provides for significant cost
and environmental benefits and we are proud that our graphene can
play its part.
"We believe we are in a strong position to build a wider
customer base in the oil and gas sector."
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
CNTFRMMTMBITTPL
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