Share Name Share Symbol Market Type Share ISIN Share Description
Versarien LSE:VRS London Ordinary Share GB00B8YZTJ80 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.00p -4.10% 117.00p 116.00p 118.00p 122.00p 113.50p 122.00p 1,798,783 16:19:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 5.9 -2.2 -1.9 - 173.94

Versarien PLC Collaboration with Israel Aerospace Industries

31/10/2017 7:00am

UK Regulatory (RNS & others)


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RNS Number : 0184V

Versarien PLC

31 October 2017

31 October 2017

Versarien plc

("Versarien" or the "Company")

Collaboration with Israel Aerospace Industries

Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has entered into a collaboration with Israel Aerospace Industries ("IAI") to enable both groups to work together to develop and test Versarien's proprietary Nanene few layer graphene nano-platelets in aerospace composite structures.

IAI is a world leader in both the defence and commercial markets, delivering state-of-the-art technologies and systems in the domains of: air, space, land, sea, cyber, homeland security and intelligence, surveillance and reconnaissance.

IAI has agreed to purchase Nanene from Versarien, in a variety of forms, which will then be incorporated into composite panels for testing and evaluation, with a view to developing commercial applications for the technology. The collaboration is additionally expected to incorporate discussions and work with IAI's supply chain.

Moshe Medina, EVP and General Manager of IAI's Engineering and Development Group, commented: "IAI looks forward to collaborating with Versarien on graphene based composites, which we believe will help us create stronger and multi-functional materials. It is an ongoing challenge to harnesses the excellent micro-properties of graphene for enhancement of our composites."

Neill Ricketts, CEO of Versarien, commented: "We are delighted to be working with IAI, a global leader in aerospace technologies, to incorporate our graphene into a variety of composite structures. We will be working closely with the teams at IAI and their suppliers to test and evaluate the benefits of adding graphene to a variety of composite structures.

"The agreement with IAI is a significant step forward for Versarien, our first graphene collaboration in the aerospace sector, but it is just one example of the global relationships we are developing. There is increasing interest in the benefits that high quality graphene, of the types manufactured by Versarien, can add to material properties and we look forward to announcing further collaborations in due course."

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Enquiries:

Versarien 01242 269 122

Neill Ricketts, CEO

Chris Leigh, CFO

   WH Ireland (Nominated Advisor)                                                    0117 945 3470 

Mike Coe

Ed Allsopp

   IFC Advisory (Financial PR and IR)                                                 0203 053 8671 

Tim Metcalfe

Graham Herring

Heather Armstrong

About Israel Aerospace Industries

IAI is a world leader in both the defence and commercial markets, delivering state-of-the-art technologies and systems in all domains: air, space, land, sea, cyber, homeland security and ISR. Drawing on over 60 years of experience developing and supplying innovative, cutting-edge systems for customers around the world, IAI tailors optimized solutions that respond to the unique security challenges facing each customer.

IAI employs its advanced and proven engineering, manufacturing and testing capabilities to develop, produce and support complete systems - from components, sensors and subsystems all the way to large-scale, fully-integrated systems of systems.

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 five 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

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

Cambridge Graphene Ltd, which supplies novel inks based on graphene and related materials, using patented processes and develops graphene materials technology for licensing to manufacturers. www.cambridgegraphene.com

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 31, 2017 03:00 ET (07:00 GMT)

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