Advanced materials engineering group,has secured its first graphene order form a US based company.
The American customer, Versarien’s announcement shared, had successfully conducted laboratory testing and industrial trials prior to placing the order for 12kg of Versarien’s high purity graphene product.
Shares in Versarien are up over 8% to 103p a share following the news.
The graphene, in the form of high purity nano platelets, is integrated into an enhanced material which can be used in a myriad of ways-- from graphene-enhanced plastic to packaging solutions and household items.
Versarien’s new customer intends to use the graphene material in “down-hole drilling components for their initial scale up process.” Should this scale up be successful, Versarien expects to receive additional orders that are likely to be significantly larger.
Neill Ricketts, CEO of Versarien, commented: “ "We are very pleased to have secured this order following extensive testing of our material by the Customer. It is validation of both the benefits our graphene can deliver in this application and our focus on building our US customer base.
"The oil and gas exploration sector is constantly looking for new technology to enhance drilling activities, allowing new sources to be reached more efficiently. This provides for significant cost and environmental benefits and we are proud that our graphene can play its part.
"We believe we are in a strong position to build a wider customer base in the oil and gas sector."
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