LONDON (Alliance News) - Engineering materials group Versarien PLC on Wednesday said it has entered into a memorandum of understanding with Bromley Technologies Ltd to collaborate on the development of graphene-enhanced carbon fibre products using Versarien's graphene nano platelets.
Bromley Technologies develops and markets "game-changing" products and technologies, particularly in the action sports domain.
The initial focus of the collaboration is expected to be on products in the elite sports area, Versarien said.
"As early adopters of new technological applications, the sporting sector is very attractive space for Versarien to operate in, in addition to this, the testing process is relatively fast in comparison to the more traditional engineering and industrial projects we have completed in the past," Chief Executive Neill Ricketts said in a statement.
Shares in Versarien were untraded on Wednesday, last quoted at 13.14 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Versarien (VRS)