Versarien PLC Collaboration Agreement with BP Polymers
30 May 2019 - 12:00AM
RNS Non-Regulatory
TIDMVRS
Versarien PLC
29 May 2019
29 May 2019
Versarien plc
("Versarien" or the "Company")
Collaboration Agreement with BP Polymers
Versarien plc (AIM: VRS), the advanced materials engineering
group, is pleased to provide an update to the Company's 'USA
Update' announcement of 9 May 2019 where it was stated that the
Company had entered into an agreement with a US manufacturer of
speciality plastic packaging and transportation vessels for
volatile chemicals to explore the use of Versarien's graphene to
enhance these products.
The agreement is with BP Polymers LLC ("BP Polymers") to develop
a next generation version of BP Polymer's Kortrax(R) Barrier Resin
("Kortrax(R) BR"), incorporating Versarien's graphene, for use with
high-density polyethylene ("HDPE") and polypropylene ("PP")
containers.
Kortrax(R) is a polyamide-based barrier resin which improves
both the chemical permeability performance profile and the oxygen
transfer rate of HDPE base resin containers. Kortrax(R) BR included
containers, trade marked as Baritainers(R) , can safely transport
solvent-based products such as household chemicals, industrial
chemicals, cleaning solvents, adhesives, wood preservatives,
automotive additives and agricultural chemicals. Kortrax(R) BR, is
also used in food applications requiring a barrier resin to prevent
both permeation and oxygen contamination, and is FDA, EU and USP
661 compliant.
This collaboration agreement will be focused on improving the
product performance of Kortrax(R) BR for the various markets it
currently serves, through the addition of Versarien's graphene,
while developing new opportunities in other industries. Utilising
the properties of Versarien's graphene, Kortrax(R) BR is expected
to provide a superior barrier material for use with HDPE and PP
base resins in multiple industry applications. This is expected to
enable Kortrax(R) BR to provide enhanced polymer properties such as
fire retardancy, static mitigation, oxygen resistance, and
increased tensile strength, allowing for the use of less base
resin.
Kevin Callahan, COO of BP Polymers, stated: "We look forward to
working with Versarien in improving and developing Kortrax(R)
barrier resins for packaging customers in multiple markets. With
the announcement of this collaboration agreement, BP Polymers will
continue to improve and enhance the performance characteristics of
Kortrax(R) . Both BP Polymers and our licensed converters working
together will offer a unique and proven mono-layer HDPE and PP
barrier container technology. As partners, we will be able to solve
customer needs in a very cost effective and environmentally
sustainable manner."
Neill Ricketts, CEO of Versarien plc, commented: "We are very
pleased to have entered into this graphene application
collaboration agreement with BP Polymers, further broadening the
sectors addressed by our partnerships. We believe that graphene has
the potential to provide significant enhancements to the family of
Kortrax(R) barrier resins, allowing BP Polymers to provide even
better products for its customers."
Enquiries:
Versarien
Neill Ricketts, CEO
Chris Leigh, CFO +44 (0)1242 269 122
Canaccord Genuity (Nominated
Adviser and Broker)
Bobbie Hilliam
Emma Gabriel +44 (0)20 7523 8000
IFC Advisory (Financial PR
and IR)
Tim Metcalfe
Graham Herring
Heather Armstrong +44(0)20 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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