13 December 2024
Versarien
Plc
("Versarien", the "Company" or the "Group")
€804,000 Grant
Award
Versarien Plc (AIM: VRS), the
advanced engineering materials group, is pleased to announce that
the Company's 90% owned subsidiary, Gnanomat S.L. ("Gnanomat"), has
been awarded a grant ("Grant") of approximately €804,000
(approximately £663,000) to finance a project relating to next
generation energy storage devices based on Gnanomat's advanced
materials technology. The Grant is expected to be received as
one single payment before the end of 2024.
The Grant covers 70% of Gnanomat's
anticipated costs, including day-to-day fixed costs, in relation to
a 24-month project to elevate the technology readiness level (TRL)
of GnanoCaps, an innovative and eco-friendly energy storage device,
that leverages Gnanomat's proprietary hybrid nanomaterials platform
to create optimised energy storage solutions. They combine
the high power and rapid recharge capabilities of supercapacitors,
with improved energy delivery, enhanced safety, and the use of
clean electrolytes, eliminating explosion risks associated with
lithium-ion batteries.
Gnanomat's proposal for GnanoCaps was
awarded the Seal of Excellence under the European Innovation
Council (EIC) Accelerator programme in October 2020. As
announced on 17 July 2024, Gnanomat was unable to access the Grant
prior to Versarien's conversion of its convertible loan in Gnanomat
due to debt restriction rules.
Commenting, Dr Stephen Hodge, Versarien CEO,
stated: "I am delighted that
Gnanomat has been awarded this substaintial grant to further
develop their GnanoCaps technology. Grant income is key to
derisking R&D and unlocking the potential in Versarien's
technologies. With GnanoCaps we have an energy storage
technology that offers significant performance advantages over
currently available solutions and has wide ranging
applications. I believe there is a significant potential for
GnanoCaps to play a role in a wide variety of energy storage
applications from next-generation electric vehicles to those in
industrial and infrastructure areas, particularly those in ATEX
(explosive atmospheres) environments. Gnanomat, together with
the wider Versarien team, is eager to commence this project,
building on the extensive groundwork already accomplished by the
Group in this area."
This announcement contains inside information for the
purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014
as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in
accordance with the Company's obligations under Article 17 of
MAR.
For
further information please contact:
|
Versarien
Stephen Hodge, Chief Executive
Officer
Chris Leigh, Chief Financial
Officer
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c/o IFC
|
|
SP
Angel Corporate Finance (Nominated Adviser and
Broker)
Matthew Johnson, Adam
Cowl
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+44 (0)20 3470 0470
|
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IFC
Advisory Limited (Financial PR and Investor
Relations)
Tim Metcalfe, Zach Cohen
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+44 (0) 20 3934 6630
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For further information please
see: http://www.versarien.com