Last checked at 4 Nov 2014 07:00
Press Release | 4 November 2014 |
Versarien plc
("Versarien" or the "Group")
Update on 2-DTech Ltd
Versarien Plc (AIM:VRS), the advanced engineering materials group, is pleased to provide the following commercial update on 2-DTech Ltd ("2-DTech" or the "company"), the Group's graphene application and product development subsidiary which was acquired in May 2014.
Versarien also announces that 2-DTech will be hosting a site visit in Manchester for institutional investors, analysts and media on 19 November 2014. The site visit will enable the company to demonstrate the progress made since May in the commercialisation of graphene and will include a tour of the 2-DTech facility and presentations by leaders in this technology from 2-DTech and the University of Manchester.
In line with Versarien's strategy of supporting the road to product commercialisation through technology finance, 2-DTech has been awarded two separate grants from InnovateUK, formerly known as the Technology Strategy Board.
• 2-DTech will receive £80,000 for a collaborative project with Evodental, a leading dental implant company, to produce graphene-reinforced polymers for fixed dental prostheses.
• 2-DTech will receive £98,000 to explore the functionalisation of solid-state dye-sensitised solar cells which will be expedited in conjunction with Dyesol Ltd, the Australian solar clean tech company.
The InnovateUK grants supplement the existing £240,000 University of Manchester proof of concept grant for the commercialisation of a unique production process for which Versarien has now filed its first patent, jointly with the University of Ulster.
As a result of 2-DTech's progress and to strengthen the company's relationship with University of Manchester it has further strengthened the management team through two new senior appointments.
• Dr. Aravind Vijayaraghaven, who is a lecturer in Nanomaterials at the University of Manchester, and is the public engagement coordinator for the National Graphene Institute, has joined 2-DTech as a Senior Consultant. The Board believes that Dr. Vijayaraghaven's reputation in the industry of nanomaterials and in the field of graphene will be of significant benefit to 2-DTech as it embarks on a number of planned collaboration projects.
• 2-DTech has also appointed Dr. Andrew Strudwick as a Research Scientist. Dr. Strudwick completed his PhD in the condensed matter physics department at the University of Leeds before working for BASF on commercialising graphene projects.
Neill Ricketts, Chief Executive Officer of Versarien, commented: "Since the acquisition in May, 2-DTech has made excellent progress with many of our key objectives being achieved well ahead of schedule whilst still keeping a strict control over costs. The two InnovateUK grants are testament to the hard work by 2-DTech and demonstrate our drive towards achieving early commercialisation of this very exciting discovery. We look forward to welcoming interested parties to the home of graphene where they will see how graphene is being developed and commercialised by 2-DTech through the combination of academic, scientific and commercial expertise."
For further information, please visit 2-DTech's new corporate website: http://2-dtech.com
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For further information:
Versarien Plc | |
Neill Ricketts, Chief Executive Officer | Tel: +44 (0) 1594 888 622 |
Chris Leigh, Chief Financial Officer | www.versarien.com |
Charles Stanley Securities (Nominated Adviser and Broker) | |
Mark Taylor / Russell Cook | Tel: +44 (0) 20 7149 6000 |
Media Enquiries:
Abchurch Communications Limited | |
Henry Harrison-Topham / Jamie Hooper | Tel: +44 (0) 20 7398 7719 |
jamie.hooper@abchurch-group.com | www.abchurch-group.com |
Notes to Editors
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 two wholly owned subsidiaries, Versarien Technologies Ltd and Total Carbide Ltd, and holds an 85% stake in 2-DTech Ltd.
Versarien Technologies Limited ("VTL")
VTL owns the exclusive rights to a patent-protected additive process for creating advanced micro-porous metals. Versarien primarily targets the thermal management industry exploiting the superb thermal properties exhibited by such materials. The company's lead product is VersarienCu™, a micro-porous copper which on incorporation into liquid cooling systems, can improve efficiency by up to ten times. http://www.versarien.co.uk/
2-DTech™ Limited
On 1 May 2014, Versarien acquired 85% of the issued share capital of 2-DTech, a company closely aligned with The University of Manchester, the established home of graphene technology. 2-DTech specialises in the supply, characterisation and early stage development of graphene products. 2-DTech also works closely with industry and researchers to help turn scientific innovation into groundbreaking products. The acquisition will enable Versarien to apply its experience and expertise to commercialising graphene in the UK; demand for which is set to grow exponentially over the coming years. For further information about 2-DTech visit http://2-dtech.com/
Total Carbide Limited ("TC")
TC is one of the leading European manufacturers of sintered tungsten carbide, with a global customer base covering over forty different industries. It primarily manufactures arduous environment products for application in the oil and gas industry, along with multiple other industries. TC provides VTL with access to high volume manufacturing assets that have significantly expanded production of VersarienCu™. http://www.totalcarbide.com/