Last checked at 7 Mar 2019 11:42
7 March 2019
Versarien plc
("Versarien" or the "Company")
Further Collaboration with a Chinese Aerospace Company
Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with a second large state-owned Chinese aerospace company (the "Partner"). This is in addition to the MOU entered into with another large state-owned Chinese aerospace company, as announced on 19 December 2018.
The Partner is engaged in the research, design and manufacture of various materials and systems used in the aerospace sector.
The MOU details the parties desire to collaborate and ultimately enter into a strategic cooperation covering research, development and manufacturing in order to accelerate the industrialisation and market for Versarien's graphene in the Chinese aerospace sector and other sectors utilising similar materials and technology. This will include exploring the use of graphene within the areas of, amongst others, film materials and sensors.
Neill Ricketts, CEO of Versarien, commented: "We are very pleased to have entered into this agreement with another of the large Chinese aerospace companies.
"This partnership is complementary to the others we have entered into in the aerospace sector, both in China and elsewhere. It will be focussed on developing additional innovative products incorporating Versarien's graphene, leveraging the world class research and development capabilities of this Partner.
"This agreement is further demonstration of the progress we are making in China and I look forward to providing further updates in due course on both our activities in China and our collaborations globally."
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
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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