Advanced materials developer Versarien has announced that some of the £1.5m raised earlier in March has already enabled new equipment to be purchased and installed at 85%-owned Cambridge Graphene, according to StockMarketWire.com.
The company acquired its majority holding in Cambridge Graphene in January, which was followed by the fund raising.
“This equipment, operated by the existing Cambridge Graphene team, supplemented by recently added personnel, is already producing graphene for customers in sample quantities,” Versarien released in a statement.
The company is highly focused on upscaling it’s ability to mass-produce graphene.
“Further testing and commissioning of capital equipment is ongoing to enable the Company to scale up its graphene manufacturing capability,” they added.
At 9:58am: [LON:VRS] Versarien PLC share price was +2p at 20.5p