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Versarien progresses plan for graphene JV in China

Monday, 19th November 2018
Advanced materials engineering group Versarien said it had entered into an early-state and non-binding agreement with Jinan High-Tech Financial Investment related to a plan to to establish a manufacturing centre in Shandong province, China.

The memorandum of understanding covered plans to establish a joint venture for the manufacture and sale of Versarien's graphene products in Jinan.

Subject to the satisfactory completion of negotiations, it was envisaged that Jinan High-Tech would provide funding for the venture 'in a structure to be agreed'.

'We are very pleased to be making progress in establishing a Chinese graphene manufacturing base for Versarien in Jinan and I am very grateful for the significant support we are continuing to receive from both Chinese governmental and industrial parties,' chief executive Neill Ricketts said.

'Before entering into this MOU JHFI have undertaken significant analysis of our graphene products and we are delighted to note that they consider them to be world leading.'

'It is not intended that this will be our sole base in China, as the Chinese opportunity is so large, but our planned venture in Jinan is intended to form the centre of the 'Qilu Graphene Valley' and pave the way to Versarien establishing a world class base in the Asian region.'

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