Versarien advances in global graphene market with strategic asset sale and partnerships
London, UK
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March 21, 2024 11:35 AM Eastern Daylight Time
Versarien PLC (AIM:VRS, OTC:VRSRF) CEO Stephen Hodge speaks to Proactive's Stephen Gunnion about the significant steps the company has taken to refine its business strategy and focus on its core technologies and intellectual properties (IP).
In a notable move, the company has sold its Korean assets, including equipment and IP related to graphene manufacturing by chemical vapour deposition (CVD), to MCK Tech, a South Korean graphene company. This sale, valued at approximately £604,000, includes the equipment and exclusive licensing of five patents to MCK Tech, alongside future royalties. Hodge emphasized the company's shift towards a manufacturing-light operation, seeking to monetize its developed IP and know-how by collaborating with strategic partners globally, leveraging local resources to produce graphene sustainably.
Hodge said a just-announced five-year licensing deal with Brazilian-headquartered multinational business Montana Quimica for Versarien's Graphinks branded goods will help the company capitalise on Brazil's abundant natural graphite, circumventing Brazil's high import restrictions and utilising local materials cost-effectively.
The company's global strategy includes expanding its licensing and royalty agreements with various partners across the UK, USA, Middle East, and Asia, with current agreements including companies like Graphene Lab and MCK Tech in South Korea, and Flux Footwear in the USA.
Additionally, Ben Harries returns to Versarien as head of 3D Construction Printing, bringing valuable experience from the water sector to bolster the company's sales and business development efforts.
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