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Versarien plc

Versarien plc Secures US Graphene Order

Versarien plc (LON: VRS), the advanced materials engineering group, has today announced that the Company has secured its first graphene order from a US based company, operating in the oil and gas exploration sector.

This order is for 12kg of Versarien’s high purity graphene nano platelets (“GNP-HP”) integrated into a polymer masterbatch by the Company and follows successful laboratory testing and industrial trials by the Customer. The Versarien GNP-HP enhanced material will be used by the Customer in down-hole drilling components for their initial scale up process. If the scale up is successful, additional significantly larger orders are anticipated.

Neill Ricketts, CEO of Versarien plc, commented:

“We are very pleased to have secured this order following extensive testing of our material by the Customer. It is validation of both the benefits our graphene can deliver in this application and our focus on building our US customer base.

“The oil and gas exploration sector is constantly looking for new technology to enhance drilling activities, allowing new sources to be reached more efficiently. This provides for significant cost and environmental benefits and we are proud that our graphene can play its part.

“We believe we are in a strong position to build a wider customer base in the oil and gas sector.”