Versarien reports progress on collaboration with Beijing Institute of Graphene Technology

Versarien recently reported that it has signed a term sheet with Beijing Institute of Graphene Technology covering the proposed cooperation between the parties to develop Versarien's graphene business in China.

Subject to the completion of due diligence and the entering into of formal documentation, the term sheet will see Beijing Institute assisting Versarien with the establishment of a wholly-owned subsidiary in China. The subsidiary would focus on the manufacture of Versarien's graphene and other 2D materials in China and their sale to Chinese customers.

Beijing Institute of Graphene Technology, under the terms of the agreement, will provide funding to Versarien for the proposed subsidiary in the form of an equity investment for a holding of up to 15% in Versarien.