REG - Versarien PLC - Strategic Investment and Joint Venture Update

VersarienAnnouncement

21/08/2025 07:00

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RNS Number : 1682W  Versarien PLC  21 August 2025

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21 August 2025

Versarien plc

("Versarien", the "Company" or the "Group")

Strategic Investment and Joint Venture Update

Versarien plc (AIM: VRS), the advanced engineering materials group, provides
an update regarding a proposed joint venture outlined in the Company's interim
results, announced on 30 June 2025, and the Company's proposed strategic
investment.

 

As previously announced, the proposed strategic investment had been delayed
by, inter alia, not yet receiving appropriate clearances under both the UK
National Security and Investment Act ("NSIA") and Chinese Outbound Direct
Investment including a pending decision from the Investment Screening Unit in
relation to a joint venture company.

 

The Chancellor of the Duchy of Lancaster has now made a determination which
prevents the acquisition and use of the tangible and intangible assets held by
Versarien by the prospective UK joint venture company with China's Anhui
Boundary Innovative Materials Technology ("BIMT") on the grounds of
maintaining the security of know-how and intellectual property relating to the
production and use of graphene with dual-use applications.

 

The purpose of any joint venture with BIMT will involve the import of BIMT's
graphene, carbon nanotubes and silicon-carbon anode materials to the UK for
sale, with a particular focus on electric vehicle and other battery
technologies, technical support and research and development of new
nanomaterial enhanced composite products for the automotive sector.

 

It should be noted that there is no certainty of concluding a joint venture
agreement on this basis, nor of concluding the strategic investment, which
still remains subject to clearance under Chinese Outbound Direct Investment
regulations, within the timeframes outlined in the Company's Corporate Update
announcement of 11 August 2025.

Further announcements will be made in due course as appropriate.

For further information please contact:

 

 Versarien                                                   c/o IFC

 Stephen Hodge, Chief Executive Officer

 Chris Leigh, Chief Financial Officer

 SP Angel Corporate Finance (Nominated Adviser and Broker)   +44 (0)20 3470 0470

 Matthew Johnson, Adam Cowl

 IFC Advisory Limited (Financial PR and Investor Relations)  +44 (0)20 3934 6630

 Tim Metcalfe, Zach Cohen

 

For further information please see: http://www.versarien.com
(http://www.versarien.com)

 

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