Versarien PLC Significant Tender Win (0915R)
19 September 2017 - 4:00PM
UK Regulatory
TIDMVRS
RNS Number : 0915R
Versarien PLC
19 September 2017
19 September 2017
Versarien plc
("Versarien" or the "Company")
Significant Tender Win
Versarien plc (AIM: VRS), the advanced materials engineering
group, is very pleased to announce that it has won a single
supplier competitive tender for the ongoing supply of
nanomaterials, including the Company's graphene, to the Centre for
Process Innovation Limited ("CPI"). The evaluation of the tender
was based principally on the quality and specification of the
graphene to be supplied with additional marks awarded for price and
delivery.
The CPI, established by the UK Government, is a technology
innovation centre and the process arm of the UK Government's High
Value Manufacturing Catapult ("HVMC"). The HVMC is a strategic
initiative that aims to revitalise the UK's manufacturing industry.
Overseen by the Technology Strategy Board, the HVMC consists of
seven centres, including the CPI, with over GBP200 million of
government investment.
Versarien will be supplying up to 1.2 kilograms of graphene in a
variety of forms, including the Company's proprietary brand,
Nanene, to the CPI.
Additionally, Versarien has won the tender to supply the
nanomaterial, few hexagonal layer boron nitride, to the CPI. This
is a significant new product developed by Versarien subsidiary 2D
Tech Ltd with multiple potential applications. Whilst structurally
similar to graphene, it has very different properties and can be
used in areas where graphene is not suitable, in particular, where
the electrical conductivity or chemical reactivity of graphene is
an issue.
These are all materials produced by Versarien's subsidiaries 2D
Tech Ltd and Cambridge Graphene Ltd. The tender documentation
provides a framework agreement under which purchase orders will be
issued by the CPI as they require the Company's materials for the
varied projects they are involved with.
Neill Ricketts, CEO of Versarien, commented: "We are very
pleased to have been successful in all the tenders we entered into
to supply the CPI with our nanomaterials after a competitive
process. This provides further significant independent validation
of the quality of the materials we are able to supply and we are
now moving from supplying graphene in quantities of a few grams to
kilogram sized orders.
"The CPI is at the forefront of UK manufacturing innovation,
bridging the gap between large global companies and technologies to
provide a route for scaling technologies to the levels needed by
corporates. We anticipate that the inclusion of our materials in
products they are working on will significantly enhance their
properties. For Versarien this is an important route for the
commercialisation of products enhanced by graphene and other
related materials.
"We continue to receive record levels of enquires from potential
purchasers of our products globally and look forward to making
further announcements as appropriate."
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 CPI
The Centre for Process Innovation (CPI) is a UK based technology
innovation centre and the process arm of the High Value
Manufacturing Catapult. Established to support the UK process
manufacturing industry, CPI collaborates with universities, SMEs
and large corporates to help overcome innovation challenges and
develop next generation products and processes. Operating across a
broad range of technologies, we support our partners at every step
of the way; from concept to market; business support to technology
development; from scale up to supply chain intervention.
www.uk-cpi.com/
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:
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
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTDVLFFDKFBBBQ
(END) Dow Jones Newswires
September 19, 2017 02:00 ET (06:00 GMT)
Versarien (LSE:VRS)
Historical Stock Chart
From Apr 2024 to May 2024
Versarien (LSE:VRS)
Historical Stock Chart
From May 2023 to May 2024