Cheltenham-headquartered Versarien, the advanced materials engineering group, has agreed to acquire certain graphene production-related assets and intellectual property from South Korea-based Hanwha Aerospace Co. Ltd.
The acquisition comprises a portfolio of more than 100 patents and patent rights, many originally developed by Samsung in South Korea, covering CVD graphene manufacturing methods and related applications, together with manufacturing equipment suitable for producing high quality large format electronics grade graphene.
Neill Ricketts, Chief Executive Officer of Versarien, said: “We are delighted to have agreed the acquisition which complements our existing portfolio of graphene materials technology. In particular, it will provide us with access to patented technology and equipment to produce high quality single and dual layer graphene that has particular applications in the electronics sector, together with other areas, including in relation to some of our existing collaborations. The acquisition will also help facilitate our planned future Asian development.
Versarien plans to establish operations in South Korea via its new subsidiary which will be overseen initially by Versarien’s Head of International Strategy and Government Relations, Matt Walker.
Versarien has also received additional investment of £3.5 million from Lanstead Capital Investors in the form of 8,750,000 Subscription Shares.
Neill added: “We are pleased that we have received additional support from Lanstead to provide the funding and additional working capital required for our international expansion strategy.“
Lanstead currently holds approximately 7.57 per cent of the Company’s issued share capital. at the Issue Price to raise gross proceeds of £3.50 million.