Group revenues are on the rise for the Gloucestershire advanced engineering company and graphene innovator Versarien.
Group revenues from continuing operations were up 41 per cent to £3.82 million, and graphene revenues were up 166 per cent to £0.93 million.
Neill Ricketts, CEO of Versarien, said: “The first half of this financial year has seen continued progress in our pursuit of commercialisation whilst increasing both production capacity and our global footprint. GSCALE remains on track with particularly pleasing results in textiles and concrete. We remain conscious of our environmental obligations which also brings commercial opportunities as we seek to solve some of the global issues and challenges using graphene and allied two dimensional materials”
Last month, Versarien announced that it is to collaborate with DKH Retail Limited, the worldwide wholesale distribution subsidiary of Superdry plc.
Superdry will partner with Versarien to pioneer the production of graphene-enhanced garments, using Versarien’s GRAPHENE-WEARTM technology, with a view to importing graphene’s thermal and moisture management properties into its garments.
Other highlights through the year include a £1.93 million strategic investment in Versarien by GrapheneLab Co. Ltd., South Korea, together with royalty and trademark agreements
Versarien’s acquisition of a Spanish graphene manufacturing assets to provide up to an additional 100 tonne powder capacity per annum. The company has also placed orders for the purchase of equipment to scale up ink production capacity by an additional 12,000 litres per annum.
It also signed a lease on a new, dedicated graphene production facility in Longhope, Gloucestershire and agreed a textile supply agreement with Californian fitness brand Crosslete and discussions are ongoing with multiple garment suppliers.