Versarien Spanish Subsidiary Awarded Patent For Energy Storage Process

LONDON (Alliance News) - Versarien PLC said Monday its Spanish subsidiary Gnanomat SL has been ...

Alliance News 17 December, 2018 | 9:53AM
Email Form

LONDON (Alliance News) - Versarien PLC said Monday its Spanish subsidiary Gnanomat SL has been awarded a patent by the Spanish patent office, covering a method for obtaining nanomaterials to be used for energy storage to power electric vehicles and portable electronics.

The patent covers an element of the production process that allows Gnanomat to combine materials such as Versarien's graphene with metallic oxides in a liquid medium at moderate pressures and temperatures.

Versarien holds a 62% interest in Gnanomat. Madrid-based Gnanomat uses Versarien's graphene products in its energy storage devices.

Gnanomat intends to extend the patent to cover more European countries, the USA, Japan, Canada, China, South Korea, Japan and India.

Versarien said the patent covers a "key element" in Gnanomat's production process, covering a method of "obtaining nanomaterials composed of carbonaceous material and metallic oxides".

The patented process allows the "physical and chemical properties of the nanomaterials to be fixed by controlling the synthesis parameters".

"We have been very pleased with the acquisition of Gnanomat and the progress they have been making in recent months. The award of this patent is a key milestone as we continue to develop technology that we believe will enable the development of commercially viable graphene enhanced batteries and other energy storage devices," said Versarien Chief Executive Officer Neill Ricketts.

Versarien said the compounds produced from the patented technique can be produced in industrial quantities.

Ricketts added: "The incorporation of graphene into energy storage devices has the potential to radically enhance their capabilities, meeting the ever increasing demands to improve power density and reduce charging times for everything from hand held devices to electric cars. This is just one example of Versarien's presence at the leading edge of developing commercially relevant graphene based technology."

In September, Versarien acquired a 62% holding in Gnanomat for GBP2.6 million. Versarien paid GBP673,000 in cash and then issued 1.3 million shares to Gnanomat shareholders at a price of 150 pence each. It also will provided a EUR1.3 million loan to Gnanomat, via convertible loan notes.

Shares in Versarien were up 1.0% Monday morning at 125.25 pence each.

By Paul McGowan;

Copyright 2018 Alliance News Limited. All Rights Reserved.

Email Form

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Versarien PLC 56.60 GBX 3.85 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation

By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites