signed a commercial partnership agreement on Wednesday with MAS Innovation, a large privately held apparel and textile manufacturer.
The agreement aims to progress the securing of commercial orders or contracts for garments developed using Versarien's proprietary graphene ink materials.
The two firms have been collaborating since January 2018 to develop new garments, with several prototypes already having been developed, wearer trials conducted and rigorous testing carried out by a leading UK accredited test house, Versarien said.
Neill Ricketts, CEO of Versarien, commented: "We are delighted to have secured a commercial partnership with MAS, a global apparel manufacturer at the forefront of innovative garment manufacture.”
Shares in Versarien were trading 8.15% higher on Wednesday at 99.5p
Mr. Ricketts added: “The is the first demonstration of our graphene commercialisation strategy with a major global partner moving from the stage of having a collaboration agreement, through signing a letter of intent, to entering into a full commercial partnership agreement.”
Versarien signed a letter of intent with its textile sector collaboration partner, MAS Innovation, in July 2019 as part of a push to bring graphene enhanced garments to the marketplace.
MAS is part of a holding company for a portfolio of businesses with a combined revenue of around US$ 2 billion, and is the largest apparel and textile manufacturers in South Asia with 53 manufacturing facilities across 16 countries.
Follow News & Updates from Versarien here:
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
SP Angel research note on commodities and miners, featuring: Adriatic Metals* (ADT AU) – Trading on LSE expected to commence on 12th December Asiamet Resources (ARS LN) – Project update Erris Resources (ERIS LN) – Erris signs option to acquire 80% of Scottish gold project Nano One Materials* (NNO CN) – report progress with Pulead in the evaluation of production for lithium-iron-phosphate cathode material NOVONIX Limited* (NVX AU) – conditional agreement to supply lithium-ion battery anode material to Samsung SDI Resolute Mining (RSG LN) – Completion of roaster repairs at Syama
Gfinity (GFIN) boasts partnerships with esports brands like Activision Blizzard’s Call of Duty, and Microsoft’s Forza Racing Championship, but it is the partnerships with traditional sports brands like the Premier League and Formula 1 that are attracting attention.
Gil Holzman, President and CEO of Eco Atlantic, said: "We are very pleased that the JV Partners have unanimously elected to enter into the next phase of exploration and development at the Orinduik Block.”
The £5 billion bidding battle for Just Eat is heading for a Christmas showdown, with both suitors under mounting pressure to sweeten the terms of their competing offers for the food delivery group, British science is to be handed a major boost from a US property developer preparing to plough up to $500m (£380m) into building new laboratories across the country