Versarien PLC Collaboration Agreement with AXIA Materials (2241Y)
August 20 2018 - 1:00AM
UK Regulatory
TIDMVRS
RNS Number : 2241Y
Versarien PLC
20 August 2018
Versarien plc
("Versarien" or the "Company")
Collaboration Agreement with AXIA Materials
Versarien plc (AIM: VRS), the advanced materials engineering
group, is pleased to announce that it has entered into a
collaboration agreement with AXIA Materials Co., LTD ("AXIA") to
develop graphene enhanced composite materials and smart graphene
devices using both Versarien's proprietary Nanene graphene nano
platelets and proprietary Graphinks graphene inks.
AXIA, which is based in South Korea, develops advanced
thermoplastic composite material solutions under its LiteTex brand
for the automotive, sports, electronics and building sectors, and
produces pre-fabricated buildings under its Pixel Haus brand.
Versarien will initially work with AXIA on two projects:
- Smart Buildings - Versarien's Graphinks will be used to
incorporate sensors and thermal devices into composite building
panels and Versarien's Nanene will be used to develop graphene
enhanced materials which will be used in structural composites.
- Electric Vehicle applications - Versarien's Graphinks will be
used to add smart systems to a composite electric vehicle battery
tray and Versarien's Nanene will be used to improve the properties
of the composite structure. The battery tray is being developed
with automotive battery system manufacturers for use by global
automotive OEMs.
The relationship with AXIA developed from the recent visit to
South Korea by Versarien management with Innovate UK and the
European Enterprise Network's Global Business Accelerator
Programme. This relationship will be supported by the UK
Government's Department for International Trade ("DIT").
Commenting Justin Jin, CEO of AXIA, said: "As a composite
materials development and manufacturing company our goal has been
to develop multi-functional solutions which are integrated and
embedded into our structural materials. With Versarien's Graphinks
solutions we believe that we can integrate sensors and electric
circuits into composite building materials for smart houses and
with Nanene ensure rapid heat dissipation in integrated electric
vehicle battery tray systems and improve composite building
materials. We believe there will be many more opportunities to
utilise Versarien's materials technology to bring game changing
solutions to the market. We are very excited to start working with
Versarien."
Neill Ricketts, CEO of Versarien, commented: "We are delighted
to have signed this agreement with AXIA, which demonstrates the
global demand for Versarien's graphene products.
"We look forward to working with AXIA and their customers to
develop a variety of graphene enhanced systems and technologies.
The relationship with AXIA is an important step for Versarien and
illustrates the wide range of applications that Versarien's Nanene
and Graphinks can be applied to.
"We are grateful to the UK Government for their support to
secure this agreement."
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)
Chris Hardie
Dan Gee-Summons 020 7614 5900
IFC Advisory (Financial PR and
IR)
Tim Metcalfe
Graham Herring
Heather Armstrong 020 3934 6630
About AXIA Materials
Since its foundation in 2000, AXIA (http://www.litetex.com/) has
been developing functional polymers and high strength materials
based on its patented and proprietary matrix resin and composite
process technology. AXIA's composites are able to be processed as
"thermoforming" with few minutes of process time and zero VOC
emissions. AXIA is actively working on new modular building systems
under the Pixel Haus (https://www.pixelhaus-composite.com) name and
developing structural parts for the automobile, military, building,
and transportation industries.
The company is headquartered in Hwaseong, South Korea.
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 five 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
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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