TIDMVRS
Versarien PLC
28 April 2020
28 April 2020
Versarien plc
("Versarien", the "Company" or the "Group")
2-DTech awarded grant from Advanced Propulsion Centre
Versarien plc (AIM: VRS), the advanced materials engineering
group, is pleased to announce that its subsidiary, 2-DTech Limited
("2-DTech") has been awarded a grant of up to GBP104k from the
Advanced Propulsion Centre ("APC"). The award is part of APC's GBP1
million-plus initiative to support 14 micro, small and medium-sized
companies that are developing innovative low-carbon technologies to
significantly reduce vehicle emissions.
This grant funding comes as part of a phased 18-month process
through the APC's successful Technology Developer Accelerator
Programme (TDAP), which is one of APC's funding streams that
supports smaller organisations on their journey from concept to a
viable commercial product. In addition to the financial backing,
2-DTech will also benefit from additional support to help identify
routes to market, protect intellectual property and validate its
technology.
Neill Ricketts, Chief Executive of Versarien commented:
"TDAP has selected what it sees as the most exciting SME
technological innovators in the UK, supporting the efforts of those
most capable of delivering future solutions for zero emission
vehicles. Its support is a great endorsement of 2-DTech and the
work it is doing to develop graphene-enhanced lightweight materials
and powertrain structures."
TDAP Manager from the Advanced Propulsion Centre, Josh Denne
said: "We are delighted to be working with 2-DTech as part of our
Technology Developer Accelerator Programme (TDAP). At the APC we
are committed to working with micro, small and medium organisations
developing innovative low-carbon technologies. Companies such as
2-DTech play a crucial role in the automotive industry's net zero
carbon future. By supporting them at the beginning of their journey
we hope to ensure their innovative technology becomes commercially
viable."
Enquiries:
Versarien
Neill Ricketts, CEO +44 (0)1242 269
Chris Leigh, CFO 122
SP Angel Corporate Finance (Nominated Adviser
and Joint Broker) +44 (0)20 3470
Ewan Leggat, Soltan Tagiev 0470
Berenberg (Joint Broker) +44 (0)20 3207
Mark Whitmore, Simon Cardron 7800
Yellow Jersey (Investor Relations)
Charles Goodwin
Georgia Colkin +44 (0)20 3004
Henry Wilkinson 9512
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 seven active subsidiaries operating
under two divisions:
Graphene and Plastics
2-DTech Ltd, which specialises in the supply, characterisation
and early stage development of graphene products. 2-DTech is based
at the Graphene Innovation Engineering Centre, a GBP60 million
facility set up to work in collaboration with industry partners to
create, test and optimise new concepts for the delivery of graphene
to the market. 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 has
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,
fast recharging and very long lifetimes for use in electrical
vehicles and portable electronics products. www.gnanomat.com
Versarien Graphene Inc - based in Texas, is the recently
incorporated sales business for the UK's graphene products.
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
About the Advanced Propulsion Centre:
The Advanced Propulsion Centre (APC) accelerates the
industrialisation of technologies which will help to realise
net-zero emission vehicles. It is at the heart of the UK
government's commitment to end the country's contribution to global
warming by 2050.
Since its foundation in 2013, APC has funded over 110 low-carbon
projects, involving more than 290 partners. The technologies
developed in these projects are projected to save over 179 million
tonnes of CO2, the equivalent of removing the lifetime emissions
from 6.5 million cars.
APC projects have helped generate economic benefits too.
Companies involved have seen turnover increases of 14-17%, with new
jobs increasing by 8-10%. Together these have generated a 17% Gross
Value Added uplift.
With its deep sector expertise and cutting-edge knowledge of new
propulsion technologies, APC's role in building and advising
project consortia helps projects start more quickly and deliver
more value. In the longer term, its work to drive innovation and
encourage collaboration is building the foundations for a
successful UK industry.
For more information go to apcuk.co.uk or follow us @theapcuk on
Twitter and Advanced Propulsion Centre UK on LinkedIn.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRAFLFIISAITFII
(END) Dow Jones Newswires
April 28, 2020 06:17 ET (10:17 GMT)
Versarien (LSE:VRS)
Historical Stock Chart
From Apr 2024 to May 2024
Versarien (LSE:VRS)
Historical Stock Chart
From May 2023 to May 2024