Versarien Plc (LON:VRS), the advanced engineering materials group, has announced, further to the manufacturing licence agreement, know-how licence and technical assistance agreement entered into with Montana Química LTDA, as announced on 14 March 2024, that it has now signed a two-year supply agreement to provide certain of the Company’s proprietary graphene and related material dispersions and formulations (Graphinks™) to Montana.
Montana is a Brazilian headquartered multinational business focused on the production and sale of paints, wood preservatives and other wood finishing products including paints, stains and varnishes. Versarien understands it is Montana’s intention to utilise the Company’s Graphinks™ in application areas such as construction, composites, coatings and lubricants.
The revenue that Versarien will receive under the Supply Agreement is in addition to the Company’s existing royalty agreement with Montana that provides an amount equal to 5% of the total sales revenue earned from products manufactured using Versarien’s intellectual property and know-how, subject to minimum royalty payments of £25,000 per annum.
Commenting, Dr Stephen Hodge, Versarien CEO, stated: “We are delighted to be deepening our partnership with Montana through this Supply Agreement. The Supply Agreement follows the close relationship Versarien has developed with Montana and their establishment of SOMA, their advanced materials business unit, in November 2024. We look forward to further progressing the collaboration, including welcoming representatives of Montana’s business development team to the UK in May 2025.”
