Last checked at 28 Jun 2019 07:00
28 June 2019
Versarien plc
("Versarien" or the "Company")
US Graphene Order
Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that the Company has secured its first graphene order from a US based company, operating in the oil and gas exploration sector (the "Customer").
This order is for 12kg of Versarien's high purity graphene nano platelets ("GNP-HP") integrated into a polymer masterbatch by the Company and follows successful laboratory testing and industrial trials by the Customer. The Versarien GNP-HP enhanced material will be used by the Customer in down-hole drilling components for their initial scale up process. If the scale up is successful, additional significantly larger orders are anticipated.
Neill Ricketts, CEO of Versarien, commented: "We are very pleased to have secured this order following extensive testing of our material by the Customer. It is validation of both the benefits our graphene can deliver in this application and our focus on building our US customer base.
"The oil and gas exploration sector is constantly looking for new technology to enhance drilling activities, allowing new sources to be reached more efficiently. This provides for significant cost and environmental benefits and we are proud that our graphene can play its part.
"We believe we are in a strong position to build a wider customer base in the oil and gas sector."
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