14 March 2019
("Versarien" or the "Company")
LOI with Tunghsu Optoelectronic
Versarien plc (AIM: VRS), the advanced materials engineering group, is pleased to announce that it has signed a Letter of Intent ("LOI") with Tunghsu Optoelectronic Technology Ltd. ("Tunghsu Optoelectronic") to further progress the relationship between the parties. This LOI follows the Memorandum of Understanding Versarien entered into with Tunghsu Optoelectronic as announced on 7 November 2018.
Versarien and Tunghsu Optoelectronic will establish a joint implementation committee, composed of three members from each party, to progress the plans envisaged by the LOI, with a view to ultimately entering into manufacturing joint venture, although there can be no guarantee that this outcome will ultimately be achieved.
The LOI details the parties desire to work together to develop and manufacture in
Neill Ricketts, CEO of Versarien, commented: "We are very pleased that our relationship with Tunghsu Optoelectronic has moved to the next stage with the signing of this LOI.
"We have been working closely with Tunghsu Optoelectronic since November last year and we look forward to progressing our research and development activities with them with a view to ultimately establishing a joint manufacturing capability in
"Tunghsu Optoelectronic is a leading global enterprise and we are delighted that they have recognised the quality of our graphene and wish to deepen their relationship with Versarien.
"We are also making good progress with our other collaborations in
Neill Ricketts, CEO
Chris Leigh, CFO
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Canaccord Genuity (Nominated Adviser and Broker)
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IFC Advisory (Financial PR and IR)
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About Tunghsu Optoelectronic
Tunghsu Optoelectronic is one of the world's leading suppliers of optoelectronic display materials. It is currently the largest LCD glass substrate manufacturer in
Versarien plc (AIM:VRS), is an advanced engineering materials group. Leveraging proprietary technology, the Group creates innovative engineering solutions for its clients in a diverse range of industries. Versarien has six subsidiaries operating under two divisions:
Graphene and Plastics
2-DTech Ltd, which specialises in the supply, characterisation and early stage development of graphene products. www.2-dtech.com
AAC Cyroma Limited, which specialises in the supply of vacuum-formed and injection-moulded products to the automotive, construction, utilities and retail industry sectors. Using Versarien's existing graphene manufacturing capabilities, AAC will have the ability to produce graphene-enhanced plastic products. www.aaccyroma.co.uk
Cambridge Graphene Limited, supplies novel inks based on graphene and related materials, using patented processes to develop graphene materials technology.
Gnanomat S.L. ("GNA"), based in the Parque Cientifico
Hard Wear and Metallic Products
Versarien Technologies Limited has developed an additive process for creating advanced micro-porous metals targeting the thermal management industry and supplies extruded aluminium. www.versarien-technologies.co.uk
Total Carbide Limited, a leading manufacturer in sintered tungsten carbide for applications in arduous environments such as the oil and gas industry. www.totalcarbide.com
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