Versarien inks MOU with mystery Chinese aerospace firm

Advanced materials engineer Versarien has inked a memorandum of understanding with an unnamed state-owned Chinese aerospace firm.

Versarien will collaborate with its mystery partner, which was said to be mainly engaged in the research, design, manufacture and operation of various aerospace systems, as the pair ultimately push towards developing a strategic cooperation in order to accelerate the industrialisation and market for graphene and other Versarien 2D materials, including Hexotene, in the Chinese aerospace sector.

The AIM-listed group said the duo's work would include exploring the uses of its products within the fields of microwave and electromagnetic radiation shielding, heat dispersion coatings, 3D printing and flexible wearable devices.

Chief executive Neill Ricketts, said: "The aerospace sector is at the forefront of developing advanced materials to cope with demands for attributes such as lightness, high strength, conductivity, temperature resistance and corrosion resistance.

"This agreement is the latest in a series that we have entered into with parties in China and I would like to take this opportunity to again thank both the Chinese and UK governments for the support and assistance they are providing."

As of 1105 GMT, Versarien shares had pushed ahead 2.66% to 117.55p.