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Versarien plc

Versarien plc Collaboration Agreement with BP Polymers

Versarien plc (LON: VRS), the advanced materials engineering group, today provided an update to the Company’s ‘USA Update’ announcement of 9 May 2019 where it was stated that the Company had entered into an agreement with a US manufacturer of speciality plastic packaging and transportation vessels for volatile chemicals to explore the use of Versarien’s graphene to enhance these products.

The agreement is with BP Polymers LLC to develop a next generation version of BP Polymer’s Kortrax® Barrier Resin, incorporating Versarien’s graphene, for use with high-density polyethylene and polypropylene containers.

Kortrax® is a polyamide-based barrier resin which improves both the chemical permeability performance profile and the oxygen transfer rate of HDPE base resin containers. Kortrax® BR included containers, trade marked as Baritainers®, can safely transport solvent-based products such as household chemicals, industrial chemicals, cleaning solvents, adhesives, wood preservatives, automotive additives and agricultural chemicals. Kortrax® BR, is also used in food applications requiring a barrier resin to prevent both permeation and oxygen contamination, and is FDA, EU and USP 661 compliant.

This collaboration agreement will be focused on improving the product performance of Kortrax® BR for the various markets it currently serves, through the addition of Versarien’s graphene, while developing new opportunities in other industries. Utilising the properties of Versarien’s graphene, Kortrax® BR is expected to provide a superior barrier material for use with HDPE and PP base resins in multiple industry applications. This is expected to enable Kortrax® BR to provide enhanced polymer properties such as fire retardancy, static mitigation, oxygen resistance, and increased tensile strength, allowing for the use of less base resin.

Kevin Callahan, COO of BP Polymers, stated: “We look forward to working with Versarien in improving and developing Kortrax® barrier resins for packaging customers in multiple markets. With the announcement of this collaboration agreement, BP Polymers will continue to improve and enhance the performance characteristics of Kortrax®. Both BP Polymers and our licensed converters working together will offer a unique and proven mono-layer HDPE and PP barrier container technology. As partners, we will be able to solve customer needs in a very cost effective and environmentally sustainable manner.”

Neill Ricketts, CEO of Versarien plc, commented: “We are very pleased to have entered into this graphene application collaboration agreement with BP Polymers, further broadening the sectors addressed by our partnerships. We believe that graphene has the potential to provide significant enhancements to the family of Kortrax® barrier resins, allowing BP Polymers to provide even better products for its customers.”