Versarien to establish graphene manufacturing centre in Shandong, China
Versarien, the British advanced materials engineering group, has
announced that it has signed a Letter of Intent (LOI) to establish a
graphene manufacturing centre in China.
The non-binding LOI has been entered into by Versarien together with the Shandong Institute of Industrial Technology Fund, Jinan Qing Na Material Technology Co Ltd and Jinan Innovation Zone Administrative Committee with the view to establishing the "China-UK Jinan Graphene Industrial Park" in the Jinan Innovation Zone, Shandong Province, China. The Jinan Innovation Zone, established as a national hi-tech zone in 1991, currently has ten industrial parks with businesses including software, intelligent manufacturing and life sciences.
The LOI envisages as a first stage the establishment of a 100,000 square foot manufacturing facility to produce and sell Versarien's proprietary Nanene few layer graphene nano-platelets. Versarien will provide its intellectual property (IP) on a licensed basis together with production know how, whilst the other joint venture partners will provide the factory and funding for plant and equipment.
The second stage objective is the establishment of the first Chinese graphene industrial park, the "Jinan Graphene Valley" including a graphene research institute with funding coming from the joint venture partners. The total project cost is anticipated to be in the region of CNY 500 million (approximately £55 million).
It is the Company's intention to form a wholly owned Hong Kong company which will become one of the joint venture partners, whilst ensuring the strongest protection of its IP.
Neill Ricketts, CEO of Versarien, commented: "It is intended that this facility will form the centre of the "Jinan Graphene Valley" and pave the way to Versarien establishing a world class base in the Asian region. We have been afforded great support from the Chinese government and we are working with all parties to deliver this facility in record time and to capture the excitement and support for our Nanene product in China.
Source:Versarien
The non-binding LOI has been entered into by Versarien together with the Shandong Institute of Industrial Technology Fund, Jinan Qing Na Material Technology Co Ltd and Jinan Innovation Zone Administrative Committee with the view to establishing the "China-UK Jinan Graphene Industrial Park" in the Jinan Innovation Zone, Shandong Province, China. The Jinan Innovation Zone, established as a national hi-tech zone in 1991, currently has ten industrial parks with businesses including software, intelligent manufacturing and life sciences.
The LOI envisages as a first stage the establishment of a 100,000 square foot manufacturing facility to produce and sell Versarien's proprietary Nanene few layer graphene nano-platelets. Versarien will provide its intellectual property (IP) on a licensed basis together with production know how, whilst the other joint venture partners will provide the factory and funding for plant and equipment.
The second stage objective is the establishment of the first Chinese graphene industrial park, the "Jinan Graphene Valley" including a graphene research institute with funding coming from the joint venture partners. The total project cost is anticipated to be in the region of CNY 500 million (approximately £55 million).
It is the Company's intention to form a wholly owned Hong Kong company which will become one of the joint venture partners, whilst ensuring the strongest protection of its IP.
Neill Ricketts, CEO of Versarien, commented: "It is intended that this facility will form the centre of the "Jinan Graphene Valley" and pave the way to Versarien establishing a world class base in the Asian region. We have been afforded great support from the Chinese government and we are working with all parties to deliver this facility in record time and to capture the excitement and support for our Nanene product in China.
Source:Versarien
Comments
Post a Comment