LONDON (Alliance News) - Engineering materials company Versarien PLC said Thursday its graphene development subsidiary 2-DTech has made a "major advance" in graphene platelet production, which it believes will accelerate the potential commercial applications for graphene and graphene products.
Graphene is a pure carbon material that is very thin, at one atom thick, but also very strong and able to conduct heat and electricity efficiently.
The company said that 2-DTech has developed its own technique for graphene production founded on a licenced process from the University of Ulster, which Versarien believes "offers numerous advantages over the conventional graphene manufacturing solutions currently on the market."
"We are now planning to commence production and by utilising our existing production facilities we expect to lower our graphene production costs," said Chief Executive Officer Neill Ricketts in a statement. " We now look forward to increasing capacity to meet the demand for high quality supplies to complement our existing forms of graphene production," Ricketts added.
Versarien will announce its full year results July 21, and said it is expected to report results "broadly" in line with market expectations, with revenues of around GBP5 million. According to Morningstar, Charles Stanley Securities expects Versarien to post a full year pretax loss of GBP500,000.
Shares in Versarien are trading up 15.2% at 16.70 pence Thursday morning, one of the best-performing stocks in the AIM All-Share index.
By Hana Stewart-Smith; firstname.lastname@example.org; @HanaSSAllNews
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