REG - Versarien PLC - US Update

VersarienAnnouncement

21/01/2020 07:05

RNS Number : 3867A
Versarien PLC
21 January 2020
 


21 January 2020
Versarien plc
("Versarien" or the "Company" or the "Group")
US Update
Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to provide an update on its US graphene operations.
The Company continues to make progress with current and potential partners in the US.  As announced on 27 June 2019, the Company appointed Brian Berney as President of North American Operations at Versarien Graphene Inc., reporting to Neill Ricketts, CEO of Versarien.  Since then the Company has continued to enter into confidentiality agreements with potential partners to examine collaborations and develop trials in the region, including in particular, with a global tyre manufacturer.
Versarien has strengthened its US profile by attending two trade missions in Q4 2019, supported by the UK government.  In October 2019, Versarien attended the UK Supplier Showcase in Wichita, in conjunction with Spirit AeroSystems, and in December 2019 the Company was part of Innovate UK's Global Business Innovation Programme to Boston, which focused on graphene applications and technology in the electronics, composites and energy sectors.
Versarien Graphene, Inc. has a serviced office location.  Brian Berney, who is the only full-time employee in the US, is supported by the UK Company team, including from within the Company's laboratory facilities at the Graphene Engineering Innovation Centre in the UK. The Company also has access to third party laboratory facilities in Texas, which are utilised on a flexible basis and only as required.  This strategy is in line with the Group's approach to keep cost to a minimum and utilise customer's R&D facilities, where possible, as well as the Company's R&D expertise and available facilities in the UK.
Enquiries:



Versarien
Neill Ricketts, CEO
Chris Leigh, CFO


+44 (0)1242 269 122




Canaccord Genuity (Nominated Adviser and Broker)
Bobbie Hilliam


+44 (0)20 7523 8000




IFC Advisory (Financial PR and IR)
Tim Metcalfe
Graham Herring


+44(0)20 3934 6630
 



 
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 seven subsidiaries operating under two divisions:
Graphene and Plastics
2-DTech Ltd, which specialises in the supply, characterisation and early stage development of graphene products.  2-DTech is based at the Graphene Innovation Engineering Centre, a £60 million facility set up to work in collaboration with industry partners to create, test and optimise new concepts for the delivery of graphene to the market. 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 has 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, fast recharging and very long lifetimes for use in electrical vehicles and portable electronics products. www.gnanomat.com 
Versarien Graphene Inc - based in Texas, is the recently incorporated sales business for the UK's graphene products.
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 




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