Versarien PLC Significant Graphene Order (3616Q)

TIDMVRS

RNS Number : 3616Q

Versarien PLC

29 November 2016

29 November 2016

Versarien plc

Significant Graphene Order

Versarien plc (AIM:VRS) ("Versarien" or the "Company"), the advanced materials group, is pleased to announce the receipt of a further significant graphene order for a carbon fibre composite related OEM application.

On 13 October 2016, the Company announced that following the positive test results from the composite project with the National Graphene Institute ("NGI") that the NGI was purchasing a significant quantity from Versarien for a specific project with a major OEM.

Versarien has now received an order with a value of over GBP100,000 for graphene in the form of Few Layer Graphene Nano Platelets ("GNPs") from a European commercial customer, in conjunction with the NGI. This high quality graphene will be certified by the NGI and Versarien will be handling the dispersion of the GNPs into the resin to be used by the customer. The resin will be provided by the customer free of charge and will be returned to the customer in Europe once mixed with Versarien's GNPs.

The addition of Versarien's GNPs is expected to provide a significant performance improvement to the customers' product and further significant orders would be required to fulfil market potential.

Neill Ricketts, CEO of Versarien, commented: "We believe that this order is one of the first significant orders placed in the UK to supply high quality graphene. Versarien is quickly becoming the go to place for high quality GNPs globally, having successfully scaled the business from the lab to the production arena.

"We expect the use of graphene to continue to gain further commercial traction and Versarien is very well placed to be at the forefront of delivering high quality graphene for multiple applications. We will continue to scale our production to meet demand as it occurs."

For further information please contact:

 
 Versarien plc                                               www.versarien.com 
                                                              [phone] 
 Neill Ricketts - Chief Executive Officer                                  622 
 Chris Leigh - Chief Financial Officer 
 
 WH Ireland (Nominated Adviser)                            www.whirelandcb.com 
                                                               [phone] 
 Mike Coe / Ed Allsopp                                                    3470 
 
 IFC Advisory (Financial PR and IR)                   www.investor-focus.co.uk 
 Tim Metcalfe / Graham Herring / Heather Armstrong             [phone] 
  / Miles Nolan                                                           8671 
 

Notes to Editors:

Versarien plc (AIM:VRS), is an advanced materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries. Versarien has four subsidiaries operating under two divisions:

Thermal and Hard Wear Products

Versarien Technologies Ltd. which owns the exclusive rights to a patent-protected additive process for creating advanced micro-porous metals targeting the thermal management industry and manufactures extruded aluminium heat sinks for the electronics and computing industries. www.versarien-technologies.co.uk

Total Carbide Ltd, a leading manufacturer in sintered tungsten carbide for applications in arduous environments such as the oil and gas industry. www.totalcarbide.com

Graphene and Plastics

2-DTech Ltd, which specialises in the supply, characterisation and early stage development of graphene products. www.2-dtech.com

ACC Cyroma Ltd, 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

This information is provided by RNS

The company news service from the London Stock Exchange

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November 29, 2016 02:01 ET (07:01 GMT)