Versarien PLC Graphene Supply to Major Tyre Producer (9485K)

TIDMVRS

RNS Number : 9485K

Versarien PLC

16 April 2018

16 April 2018

Versarien plc

("Versarien" or the "Company")

Graphene Supply to Major Tyre Producer

Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has secured a purchase order for the Company's proprietary Nanene few layer graphene nano-platelets from a leading tyre producer, based in Europe. This relationship has been cultivated via OQEMA plc, formerly Lansdowne Chemicals Limited, with whom the Company has a distribution agreement, as announced on 16 February 2017.

Versarien will initially be providing 500g of Nanene for testing purposes, to explore the benefits of adding graphene to tyres supplied to the automotive sector. If successful, further orders would be expected.

Robert Moss, Group Managing Director of OQEMA UK, commented: "OQEMA UK is delighted to announce our first commercial transaction with Versarien for graphene.

"This innovative material has caught the imagination of a wide variety of sectors, who see the fantastic potential in 2-dimensional materials. Without doubt, companies like Versarien are leading the way in creating the materials of the future. OQEMA is committed to partnering with innovation sources to bring these materials to wider markets as we embrace modernisation.

"Graphene's numerous benefits have almost limitless potential. New and exciting applications are being discovered on a daily basis which can only yield an exciting future for companies such as OQEMA and Versarien who are willing to put themselves at the forefront of technical advancement."

Commenting, Neill Ricketts, CEO of Versarien stated: "We are delighted to have secured this initial contract to supply Nanene to a leading producer of tyres. We look forward to working with them to explore the benefits that graphene can bring to their products.

"Our relationship with OQEMA is expected to bring us further exciting opportunities and we are very pleased to have the support of such a significant player in the global distribution arena."

Enquiries:

 
 Versarien 
  Neill Ricketts, CEO 
  Chris Leigh, CFO                 01242 269 122 
 WH Ireland (Nominated Advisor) 
  Mike Coe 
  Ed Allsopp                       0117 945 3470 
 IFC Advisory (Financial PR and 
  IR) 
  Tim Metcalfe 
  Graham Herring 
  Heather Armstrong                0203 934 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 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

AAC 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 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 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

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April 16, 2018 02:25 ET (06:25 GMT)