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14 Aug 2024 07:00
14 August 2024
Versarien plc
("Versarien" or the "Company")
3D Construction Printing Contract with Building For Humanity
Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that the Company has entered into a contract with Building For Humanity for Versarien to act as a 'print partner' to support Building For Humanity CIC, a community interest company, with a range of services for its flagship Charter Street project in Accrington, Lancashire. The contract, initially valued at approximately £200,000 will see Versarien providing 3D construction printing ("3DCP") input at all stages of the project, giving Building For Humanity a full service from design to construction.
As disclosed in the Company's interim results for the six months ended 31 March 2024, announced on 6 June 2024, the Company had previously signed a letter of mutual commitment to support the Charter Street project. The contract now signed follows the formal commencement of the project, which will see the development of 46 high-quality affordable homes, in five blocks, along with associated infrastructure, including a community hub, led by Building For Humanity. The initial phase of the project will involve the construction of the first housing block and the community hub.
Under the contract, Versarien will initially provide support to Building For Humanity, and the wider design team, to ensure alignment of the design with the 3DCP printing parameters, moving to the provision of staff and full printing services by the Company at the project's construction stage.
Dr Stephen Hodge, CEO of Versarien, commented: "We are delighted to be supporting Building For Humanity's Charter Street project using innovative 3DCP technology. This initiative is the first 3D housing construction project in the UK and one ideally suited to the services we can provide. This project is a pivotal opportunity to showcase Versarien's capabilities in enabling low-carbon, efficient construction solutions, exemplifying our commitment to innovation and sustainability."
For further information please contact:
Versarien Stephen Hodge, Chief Executive Officer Chris Leigh, Chief Financial Officer | c/o IFC |
SP Angel Corporate Finance (Nominated Adviser and Broker) Matthew Johnson, Adam Cowl | +44 (0)20 3470 0470
|
IFC Advisory Limited (Financial PR and Investor Relations) Tim Metcalfe, Zach Cohen | +44 (0) 20 3934 6630 |
About Versarien:
The strategy of Versarien plc (AIM:VRS) is to be a development led advanced materials company focussed on specific sectors that will lead to a manufacturing-light and licensing model.
For further information please see: http://www.versarien.com
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