Versarien Plc (LON:VRS), the advanced engineering materials group, has announced that it has extended its existing manufacturing licence agreement, and know-how licence and technical assistance agreement, with Montana Química LTDA, initially announced on 14 March 2024. The extended Agreements cover the use of certain of the Company’s proprietary graphene and related material thermoplastic compounds and masterbatches (Polygrene™) in products to be manufactured and sold by Montana in South America, together with Versarien providing further additional know-how, technical assistance and training to Montana.
Under the terms of the Agreements, Montana will pay Versarien £25,000 in consideration for the know-how and technical assistance, including training, to be provided. Once Montana commences manufacturing products under the Agreements a further payment of £25,000 will be due to the Company, together with an amount equal to 5% of the total sales revenue earned from products manufactured using Versarien’s intellectual property and know-how, subject to minimum Royalty payments of £10,000 per annum. These payments and the Royalty are in addition to the payments due under the agreements with Montana, announced on 14 March 2024 and 10 March 2025.
Dr Stephen Hodge, CEO of Versarien, commented: “We are very pleased to be extending our partnership with Montana, a leading business in its markets in South America that we have developed a close relationship with. We look forward to supporting Montana and its clients as they bring added-value products to the market utilising Polygrene™ thermoplastics.”
