Versarien Progresses Partnership With Tunghsu To Expand In China

LONDON (Alliance News) - Versarien PLC on Thursday said it has signed an agreement with Tunghsu ...

Alliance News 14 March, 2019 | 11:39AM
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LONDON (Alliance News) - Versarien PLC on Thursday said it has signed an agreement with Tunghsu Optoelectronic Technology Ltd to further progress their relationship.

The agreement supports the memorandum of understanding signed in November last year. The parties intend to establish a joint implementation committee, composed of three members from each firm, with a view to ultimately entering into a manufacturing joint venture.

However, Versarien said there can be no guarantee this outcome will ultimately be achieved.

The materials engineering company plans to work with Tunghsu to develop and manufacture in China new generation graphene heaters. These heaters are expected to be based on the micro-flow graphene ink technology from Versarien's subsidiary Cambridge Graphene Ltd.

"We are very pleased our relationship with Tunghsu Optoelectronic has moved to the next stage," said Versarien Chief Executive Neill Ricketts.

"We have been working closely with Tunghsu Optoelectronic since November last year and we look forward to progressing our research and development activities with them with a view to ultimately establishing a joint manufacturing capability in China," added Ricketts.

Versarien shares were trading 1.2% higher on Thursday at 96.11 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Versarien PLC 94.00 GBX -3.09 -
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