Versarien PLC GBP1.95 million Development Agreement (2456G)
November 24 2020 - 2:00AM
UK Regulatory
TIDMVRS
RNS Number : 2456G
Versarien PLC
24 November 2020
24 November 2020
Versarien plc
("Versarien" or the "Company")
GBP1.95 million Development Agreement
Versarien plc (AIM: VRS), the advanced materials engineering
group, is pleased to announce that the Company has been awarded a
product development agreement for GBP1.95 million (the "Agreement")
by the Defence, Science and Technology Laboratory ("DSTL"), a part
of the Ministry of Defence. DSTL is responsible for ensuring that
innovative science and technology contribute to the defence and
security of the UK.
The Agreement is to develop graphene loaded polymer composites
for certain defence related applications, the details of which
remain confidential. The Company has been awarded the Agreement due
to its technical applications capability in conjunction with its
accredited graphene quality.
The Agreement contains a number of work packages including
literature review, development of graphene loaded polymer
composites for three specific applications, demonstration of the
applications and exploitation of the applications. The work
packages are due for completion by 31 March 2022.
Neill Ricketts, CEO of Versarien, commented : "Versarien is
delighted to have been awarded this Agreement by DSTL, which
acknowledges the quality of our products and technical ability. We
look forward to completing the project on time and to supporting
the Ministry of Defence in applying graphene to military
applications."
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
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
Matthew Johnson, Adam Cowl 0470
Berenberg (Joint Broker) +44 (0)20 3207
Mark Whitmore, Simon Cardron 7800
Yellow Jersey (Investor Relations)
Charles Goodwin
Georgia Colkin
Henry Wilkinson
+44 (0)20 3004
Versarien@yellowjerseypr.com 9512
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END
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