Versarien PLC Textile Commercial Partnership Agreement (7650U)
November 27 2019 - 2:00AM
UK Regulatory
TIDMVRS
RNS Number : 7650U
Versarien PLC
27 November 2019
27 November 2019
Versarien plc
("Versarien" or the "Company")
Textile Commercial Partnership Agreement
Versarien Plc (AIM: VRS), the advanced materials engineering
group, is pleased to announce that it has signed a Commercial
Partnership Agreement (the "Agreement') with the Company's textile
sector collaboration partner, MAS Innovation (Private) Limited
("Twinery - Innovations by MAS"). The Agreement follows the Letter
of Intent between the parties, announced on 26 July 2019, which set
out the intent of both parties to enter into a formal commercial
partnership.
Twinery - Innovations by MAS is part of MAS Holdings (together
"MAS"), a holding company for a portfolio of businesses with a
combined revenue of c.US$ 2 billion which are positioned as one of
the world's most recognised design to delivery solution providers
in apparel and textile manufacturing. MAS is also the largest
apparel and textile manufacturer in South Asia. MAS Holdings is
headquartered in Sri Lanka and has 53 manufacturing facilities
across 16 countries, with design locations placed in key style
centres across the globe and over 99,000 people involved in its
operations. Further information on MAS may be found at
http://www.masholdings.com.
Versarien and MAS have been collaborating since signing a
collaboration agreement, as announced on 8 January 2018, to develop
new garments utilising Versarien's graphene ink materials, with
several prototypes already having been developed, wearer trials
conducted and rigorous testing carried out by a leading UK
accredited test house. The Agreement sets out the basis under which
the parties will operate with the objective of securing commercial
orders or contracts for garments developed using Versarien's
proprietary graphene ink materials. The Agreement allows both
parties to finalise additional contractual terms with third party
brands. Due to the Agreement's confidentiality terms and commercial
sensitivity, further specific product information may not be
disclosed until products are launched into the market.
Neill Ricketts, CEO of Versarien, commented: "We are delighted
to have secured a commercial partnership with MAS, a global apparel
manufacturer at the forefront of innovative garment manufacture.
The is the first demonstration of our graphene commercialisation
strategy with a major global partner moving from the stage of
having a collaboration agreement, through signing a letter of
intent, to entering into a full commercial partnership
agreement.
"We look forward to working with MAS and its customers to bring
innovative graphene enhanced garments to the global
marketplace."
Enquiries:
Versarien
Neill Ricketts, CEO
Chris Leigh, CFO +44 (0)1242 269122
Canaccord Genuity (Nominated Adviser
and Joint Broker)
Bobbie Hilliam +44 (0)20 7523 8000
Berenberg (Joint Broker)
Mark Whitmore
Simon Cardron +44 (0) 20 3207 7800
IFC Advisory (Financial PR and IR)
Tim Metcalfe
Graham Herring
Florence Chandler +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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