Versarien - Page 2

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

Versarien reports interim results after "challenging period"; plans to regroup around Cementene and Graphene wear

Versarien plans to regroup around its commercial graphene applications (Cementene and Graphene Wear) in order to promote a recovery, while also cutting costs to stabilize the business, as the Company stated while also reporting its interim results.

In the results statement, Diane Savory, Versarien’s chair, said: "The period under review was extremely challenging from a financial perspective, both from a balance sheet point of view and with the decline in graphene revenues reflecting the ending of the DSTL development contract”. Revenues in the six months to end March 2023 were £2.62 million (2022: £3.89 million), with losses of £3.4 million (2022: £2.16 million), while cash at the end of the period £0.76 million with a further £0.53 million raised since.

Read the full story Posted: Jun 09,2023

Versarien announces test results that show Cementene-enhanced concrete helps reduce CO2 emissions

Versarien has shared that trials of a precast concrete containing its Cementene water-based graphene mixture were shown to maintain its strength with 20% of the cement removed.

The initial results, carried out in tests at the accredited laboratory of Ireland-based Banagher Precast Concrete, “demonstrate the significant potential to reduce CO2 emissions without impacting the performance of the concrete”, the AIM-listed company said. This is because producing 1kg of ordinary Portland cement emits around 0.8-0.9kg of CO2 and roughly 500kg of cement is used per cubic metre of Banagher's precast concrete. Producing 1kg of Cementene is estimated to generate a higher level of CO2 emissions, at 1.44 kg, but Versarien said because only around 5kg of Cementene is used per cubic metre of concrete and allows the removal of 20% of cement in the precast concrete mix, this would equate to a net saving of almost 73kg of CO2 emissions per cubic metre of concrete poured.

Read the full story Posted: May 17,2023

Versarien announces placing to raise over £500,000

Versarien has announced a placing to raise £531,624 (before expenses) through a placing on the AIM market. This follows recent difficulties and statements by the Company, that it will require further funding to support its activities as it continues to face a number of challenges. 

The net proceeds of the placing will be used for general operational and working capital purposes and for commercialization activities primarily in the construction and leisure sectors, in line with the Company's new strategic roadmap which is being finalized.

Read the full story Posted: May 04,2023

Versarien believes in its potential to commercialize graphene technologies, but will require further funding to operate despite cutbacks

Versarien has stated that it will require further funding to support its activities as it continues to face a number of challenges. However, the Company said it has the potential to deliver significant returns from the commercialization of its technology and expects to overcome the challenges and successfully commercialize its significant technology base.

Versarien's Board is evaluating options for divestment of its mature businesses, which are no longer core activities, to focus solely on exploiting graphene technology. In addition, the Board is reviewing its overseas operations in Spain and South Korea. The Company noted that significant cost reductions have already occurred, and non-executive directors have agreed to waive any remuneration from the company indefinitely. The executive directors' pay is also being reviewed. Despite these cost reductions, as abovementioned, the Company will require further funding to support its activities, and the Board is evaluating all appropriate options.

Read the full story Posted: Mar 29,2023