Versarien PLC LOI with Global Apparel Manufacturer (7885G)
July 26 2019 - 2:00AM
UK Regulatory
TIDMVRS
RNS Number : 7885G
Versarien PLC
26 July 2019
26 July 2019
Versarien plc
("Versarien" or the "Company")
LOI with Global Apparel Manufacturer
Versarien plc (AIM: VRS), the advanced materials engineering
group, is pleased to announce that it has signed a Letter of Intent
("LOI") with the Company's textile sector collaboration partner
(the "Partner') covering the initial launch of high performance
sportswear incorporating Versarien's graphene ink technology.
The Partner, who has a collaboration agreement with the Company,
as announced on 8 January 2018, is headquartered in Asia and
designs, develops and manufactures a range of different garments
for well-known apparel brands globally.
The LOI follows successful independent tests carried out in the
UK involving the incorporation of graphene into textiles via fabric
finishes using Versarien's graphene ink technology developed by the
company's subsidiary, Cambridge Graphene Limited. The testing has
demonstrated that the incorporation of Versarien's graphene inks
into the textiles provides a number of potential benefits to a user
of garments made from them, including enhanced thermal and moisture
properties.
The non-binding LOI sets out the intent of the parties to enter
into a formal commercial relationship regarding an initial launch
of high performance sportswear. The LOI also commits both parties
to further product development across different textiles and
graphene delivery methods.
Further wearer trials are now underway with a number of well
known global sports brands, along with other Partner customers.
Neill Ricketts, CEO of Versarien, commented: "We are delighted
that this collaboration has moved to the next stage with the
signing of the LOI. This was the first major collaboration we
entered into for our graphene ink technology.
"The independent testing that has been carried out has
demonstrated a number of significant benefits that the addition of
our graphene can bring and we are confident that the further wearer
trials will validate this. We look forward to continuing to work
with this Partner with the goal of introducing graphene enhanced
high performance sports wear to the market as soon as
possible."
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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