Versarien plc (LON:VRS), the advanced materials group, have today provided an update on progress at the Company’s recently acquired subsidiary, Cambridge Graphene Limited.
The acquisition by the Company of an 85 per cent. stake in Cambridge Graphene was announced on 19 January 2017 and was followed by a successful £1.5 million fund raising announced on 6 March 2017. The Company is pleased to confirm that some of the funds raised have already enabled capital equipment to be purchased and installed at Cambridge Graphene. This equipment, operated by the existing Cambridge Graphene team, supplemented by recently added personnel, is already producing graphene for customers in sample quantities. Further testing and commissioning of capital equipment is ongoing to enable the Company to scale up its graphene manufacturing capability.
Neill Ricketts, CEO of Versarien plc, commented: “We are delighted to have been able to quickly deploy some of the funds from the recent fund raising to enhance and scale up the operations at our Cambridge Graphene facility. We are focused on the rapid commercialisation of our graphene technology and the addition of the Cambridge facility to our existing operations is already providing tangible benefits. We look forward to scaling up production to meet the substantial commercial demand we are anticipating.
“One of the existing strengths of Cambridge Graphene is their expertise in the production of novel graphene inks. We are pleased to say that Innovate UK has selected the Company to present and demonstrate Cambridge Graphene’s ink products, together with other Versarien graphene innovations, at the HiPerNano 2017 event being held in London on 6 April 2017. We welcome these opportunities to showcase our technology to potential end-users and we believe that our graphene technology can help solve a number of the engineering challenges they face.”
