Versarien

Versarien signs South American Graphinks agreements with Montana Química

Versarien has announced that it has, in line with its stated strategy to monetize intellectual property through licensing, entered into a manufacturing license agreement and a know-how license and technical assistance agreement with Montana Química ("Montana"). Montana is a Brazilian headquartered multinational business focused on the production and sale of paints, wood preservatives and other wood finishing products including stains and varnishes. The agreements cover the use of the Company's proprietary graphene and related material dispersions and formulations (Graphinks™) in products to be manufactured and sold by Montana in South America, together with Versarien providing further additional know-how, technical assistance and training to Montana.

Under the terms of these agreements, Versarien has granted a license to Montana, for an initial period of five years, to use certain intellectual property and know-how owned by the Company in their business in South America. Montana will pay Versarien initial fees of £50,000 in March 2024 in consideration of the know-how and technical assistance, including training, to be provided. Once Montana commences manufacturing under the agreement, a further payment of £25,000 will be due to the Company, together with an amount equal to 5% of the total sales revenue earned from products manufactured using Versarien's intellectual property and know-how, subject to minimum royalty payments of £25,000 per annum.

Read the full story Posted: Mar 17,2024

Versarien announces sale of Korean assets and licensing of IP

Versarien has announced that it has entered into an agreement with MCK Tech to sell the Group's plant and equipment in South Korea for a total consideration of £604,000, together with an exclusive license agreement with MCK Tech for the use of five patents, owned by the Group, for additional fees.

The Company continues to pursue its stated turnaround strategy, an integral part of which is to dispose of non-core businesses and assets. The plant and equipment acquired from Hanwha Aerospace in South Korea in 2020 were identified as non-core and marketed for sale. The Group's mature businesses, AAC Cyroma Limited and Total Carbide Limited, continue to be marketed for sale and the Company is progressing discussions with a number of interested parties, though the timing of any further asset sales and the quantum of the funds that may be received remains uncertain.

Read the full story Posted: Mar 11,2024

Versarien announces £400,000 placement

Versarien has updated that it has raised £400,000 through a placing to bolster its working capital position and take advantage of business leads it is receiving.

The Company will use this further funding to progress the conversion of recent leads while the asset sale discussions continue. Versarien also recently signed a sales agreement with Go To Gym for the distribution of Graphene-Wear products across the Americas, and a collaboration with IRPC, a Thai petroleum and petrochemical giant, for the co-development of advanced materials.

Read the full story Posted: Jan 19,2024

Versarien launches new range of graphene-based compounds

Versarien has announced the launch of a portfolio of graphene and related nanomaterial-based thermoplastic polymer compounds, branded under the name Polygrene. The Company says that the Polygrene line is the culmination of extensive collaborative efforts with the International Institute for Nanocomposites Manufacturing (IINM) at WMG, University of Warwick.

The new range has potential applications across a variety of industries, including sports equipment, construction products, aerospace and automotive components. This versatility showcases the adaptability and strength of the new graphene-infused materials.

Read the full story Posted: Nov 07,2023

Versarien reports reduction in cost base and progress on strategy

Versarien has said it is making progress in line with its strategy as it cuts its cost base. The engineering materials company said it has reduced its cost base "significantly", with its loss before interest, tax, depreciation, amortization and exceptional items at a lower run rate than in the first half of the year. As a result, it said it has seen a reduction in cash burn.

Versarien said despite its reduced cost base, it is making progress in its strategy to license its technology, brands and manufacturing expertise, divest its non-core activities and Korean assets and strengthen its scientific teams.  Versarien said it would continue to preserve intellectual property within the group whilst reducing operating costs, as it seeks to become a “manufacturing light operation”.

Read the full story Posted: Oct 02,2023

Versarien's turnaround strategy to benefit from Gnanomat's new funding

Versarien has reported that its Spanish business has secured funding for a new project, in a boost to the group’s turnaround strategy. The Company said its majority-owned subsidiary, Gnanomat, has been awarded a grant of around €415,000 (around USD$445,660) by a government body.

Gnanomat will use the money to help develop and commercialize a new line of conductive inks based on Versarien's nanomaterials, for use in the production of electronic goods.

Read the full story Posted: Sep 13,2023

New project will try to end potholes to create safer roads

Researchers from the University of Surrey have developed a new thermo-active road solution that could help prevent potholes caused by freezing and thawing in the winter. A new project that will test this new approach has been awarded a £800,000 research fellowship from the Royal Academy of Engineering. The outcomes could improve how major roads across the United Kingdom are maintained and upgraded, even as climate change increases the challenge of keeping them fit for purpose.  

As part of this five-year research project, the Surrey team will work with advanced materials engineering company Versarien to develop a new graphene-enhanced microcapsule to dig into the soil beneath the surface when roads are resurfaced to improve heat conduction and storage.

Read the full story Posted: Sep 01,2023

Versarien updates on progress with turnaround plan

Versarien has reported it is making progress on its turnaround strategy with significant cost savings already achieved.

This comes shortly after the Company reported a widened £3.4m pre-tax loss in its half-year results. Earlier this year, Versarien, which has previously secured partnerships with fashion label Superdry and kit suppliers of the England rugby team Umbro, said the tough economic conditions had delayed the commercialization of its products. 

Read the full story Posted: Jul 03,2023