Versarian buys Graphene company 2-DTech Limited
PUBLISHED: 17:43 14 April 2014 | UPDATED: 17:43 14 April 2014
Advanced engineering materials group, Versarien plc, based in the Forest of Dean, has bought the majority of shares in 2-DTech from The University of Manchester. 2-DTech specialises in the supply, characterisation and early stage development of graphene products.
The Company has raised £5,500,000 (before expenses) through the placing of 21,153,847 new Ordinary Shares at 26 pence per share.
2-DTech is a graphene company wholly owned by The University of Manchester, where graphene was first isolated by Nobel Prize winners Professor Sir Andre Geim and Professor Sir Kostya Novoselov, who now head the University’s world-leading Condensed Matter Research Group (CMRG). 2-DTech has the ability to produce graphene by using either a chemical vapour deposition process in suspension or a ‘milling’ process, which is in development.
The Directors believe the Acquisition represents an excellent opportunity for Versarien. The 2-DTech technology will enable a significant enhancement of the Versarien product range, building upon the Company’s experience in manufacturing for the technology sector and enabling the company to apply its experience and expertise to commercialising the considerable market opportunities for graphene in the UK.
Neill Ricketts, CEO of Versarien plc, said: “The acquisition of 2-DTech coupled with the planned collaboration agreements with The University of Manchester, the established home of graphene marks a significant opportunity for Versarien to progress its product range with highly complementary technologies.
“Versarien is already manufacturing over 37 tonnes per year of complex powder at its Total Carbide plant and combining this know-how with 2-DTech’s expertise, research facilities, and rights to intellectual property makes the early commercialisation of graphene related products far more likely in the near term on an industrial scale.”