[source: Versarien]
Versarien (VRS ), a developer and manufacturer of advanced materials, announced a commercial agreement with BiaBrazil, a leading Brazilian activewear company. The agreement will see the integration of Versarien's Graphene-Wear technology into a new range of women and men's activewear.
The deal is the culmination of a 16-month collaboration that saw extensive trials with local supply partners in Brazil. The Graphene-Wear formula will enable wearers to experience "enhanced thermal transmittance, increased moisture management and faster drying rates", Versarien said. The garments will bear the Graphene-Wear logo.
Garments are expected to be available in Q1 2023 for sale in the UK, along with existing retailers worldwide. Further announcements are expected on launch dates.
Versarien said it partnered with the University of Gloucestershire to test the technology extensively. Furthermore, the Graphene-Wear ink formula has been tested to international standards, resulting in the publication of a white paper aimed at giving BiaBrazil and other partners confidence in Versarien's technology, the company said.
Neill Ricketts, CEO of Versarien, commented:
"We are hugely excited to be in partnership with BiaBrazil. Through our partnership we will be able to create garments that have been designed with comfort, style and design in mind, whilst also maintaining high levels of quality and performance with our Graphene-WearTM technology."
Beatriz Dockhorn, Founder and CEO BiaBrazil, commented:
"As an innovative sports and activewear brand, we provide clothing ranges that provide our wearers with garments that not only help them in their sports performance but also increase their self-confidence. Working with the Versarien team, we have designed a next-generation clothing range. We are excited about the next stage of our partnership as we look to production and delivery of our range to market."
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Since its founding in 2010, Versarien has established itself as one of the world's leading developers of commercial applications for graphene. The company has grown rapidly since then, listing on the London Stock Exchange in 2013. The Gloucestershire-based firm has emerged as a leading European player in Silicon Valley.
In May, Versarien announced a partnership with Umbro, to integrate Graphene-Wear into the latter's Elite Pro-Training Kit range, initially for its 2023 spring/summer collection. Today's announcement further builds on Versarien's ongoing efforts to establish joint ventures and technology licensing agreements with global players, as it seeks to drive global sales.
"We're attracting really big companies who have big aspirations to get this technology into their products. So we can develop great ideas, and then licence them to global companies who have the cash to scale quickly" CEO Ricketts told Forbes in an interview in April.
Versarien also announced in June the launch of a new graphene-based hybrid nanomaterial with superparamagnetic properties. There are multiple applications for the new material, including defence, healthcare, and wastewater treatment. And in March, Versarien introduced its its "Lunar" 3D printed lifestyle pods, a 3D printed concrete product made with Cementene, the company's graphene-enhanced cement.
Demand for graphene is set to continue growing in the coming years and should drive further growth of Versarien's revenues. In the 12 months to 31 March 2022, the company reported revenues from continuing operations up 34% to £7.63m from £5.69m in FY21. Graphene revenues were up 170% to £1.89m, up from £0.7m in FY21. Loss before tax from continuing operations lowered to £5.14m from £8.08m in the previous year while Versarien had cash of £3.10 million as at 31 March 2022, up from £2.36m in 2021.
Versarien shares were 6.7% on today's announcement.
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