TIDMVRS
RNS Number : 5503G
Versarien PLC
07 November 2018
Versarien plc
("Versarien" or the "Company")
MOU with Tunghsu Optoelectronic Technology Ltd
Versarien plc (AIM: VRS), the advanced materials engineering
group, is pleased to announce that it has signed a Memorandum of
Understanding ("MOU") with Tunghsu Optoelectronic Technology Ltd.
("Tunghsu Optoelectronic"), covering cooperation between the
parties, particularly focused on graphene industrialisation.
Tunghsu Optoelectronic is one of the world's leading suppliers
of optoelectronic display materials. It is currently the largest
LCD glass substrate manufacturer in China and the fourth largest
LCD glass substrate manufacturer in the world. In addition, Tunghsu
Optoelectronic is engaged in other areas, including the
manufacturing of new energy vehicles, the industrialisation and
applications of graphene, as well as high-end equipment
manufacturing. It is listed on the Shenzhen Stock Exchange and is
part of the wider Tunghsu Group, which has over 200 wholly-owned or
controlled subsidiaries, including three listed companies; Tunghsu
Optoelectronic, Tunghsu Sky and Tungshu Challenge.
The MOU with Tunghsu Optoelectronic covers the intended areas of
cooperation between the parties, which include:
-- Jointly developing graphene-related projects including their
operation and execution, industrialisation and promotion, leading
to sales in China and global markets and exploring more widely
products utilising graphene;
-- Together with governmental agencies, academic institutions,
and other relevant organisations, to set up a "Graphene Industry
Research Institute" in China, to fund, accelerate and invest in the
productisation and commercialisation of graphene application
projects;
-- To jointly establish a "Graphene Industry Fund" to promote
and support the operation and execution of graphene
industrialisation projects;
-- To discuss mutual strategic investments for graphene-based
projects, the forms of which will be agreed in future discussions.
It is envisaged that Tunghsu will provide financial support as well
as strategic support and in return Versarien will provide the
required intellectual property to enable the industrialisation of
graphene-based projects; and
-- Focus technical collaboration on projects closely related to
both parties' current areas of activity, such as high quality
graphene manufacturing, photoelectric display materials, new energy
vehicles, energy storage technologies, LED lighting systems,
graphene thermal management materials, and flexible batteries.
The MOU is not exclusive and will allow Versarien to enter into
further agreements with parties in China.
Lipeng Wang, Chairman and CEO of Tunghsu Optoelectronic,
commented: "Versarien is a leading company and operator in the
graphene field in the UK. China has a huge market potential for
graphene industrialisation and commercialisation. As the leading
enterprise in the graphene field in China, we are very pleased to
work with Versarien to promote valuable collaboration and
innovation, and ultimately achieve mutual sucess."
Neill Ricketts, CEO of Versarien, commented: "We are delighted
to have entered into a formal collaboration with Tunghsu
Optoelectronic. As one of the pioneers of China's graphene
industry, Tunghsu Optoelectronic has strong industrial influence
and execution ability in China and in Asia more widely. We look
forward to working with them to progress the commercialisation of
our graphene products.
"The relationship with Tunghsu Optoelectronic is complimentary
to the others we have already entered into in China and those that
are under discussion. We look forward to providing updates as the
relationship progresses and announcing further agreements with both
industrial and governmental parties in China."
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
Neill Ricketts, CEO
Chris Leigh, CFO 01242 269 122
Arden Partners (Nominated Adviser and Broker)
John Llewellyn-Lloyd
Dan Gee-Summons 020 7614 5900
IFC Advisory (Financial PR and IR)
Tim Metcalfe
Graham Herring
Heather Armstrong 020 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 six 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 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 will
have 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,
almost instant recharging and very long lifetimes for use in
electrical vehicles and portable electronics products.
www.gnanomat.com
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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END
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