Versarien plc (LON: VRS), the advanced materials engineering group, today announced that it has signed a Memorandum of Understanding with a second large state-owned Chinese aerospace company. This is in addition to the MOU entered into with another large state-owned Chinese aerospace company, as announced on 19 December 2018.
The Partner is engaged in the research, design and manufacture of various materials and systems used in the aerospace sector.
The MOU details the parties desire to collaborate and ultimately enter into a strategic cooperation covering research, development and manufacturing in order to accelerate the industrialisation and market for Versarien’s graphene in the Chinese aerospace sector and other sectors utilising similar materials and technology. This will include exploring the use of graphene within the areas of, amongst others, film materials and sensors.
Neill Ricketts, CEO of Versarien, commented: “We are very pleased to have entered into this agreement with another of the large Chinese aerospace companies.
“This partnership is complementary to the others we have entered into in the aerospace sector, both in China and elsewhere. It will be focussed on developing additional innovative products incorporating Versarien’s graphene, leveraging the world class research and development capabilities of this Partner.
“This agreement is further demonstration of the progress we are making in China and I look forward to providing further updates in due course on both our activities in China and our collaborations globally.”