Versarien pushes forward with monetising IP

Last week, Versarien – the advanced materials engineering group based in the Forest of Dean announced that it was selling its South Korean plant and equipment to MCK Tech Co Ltd for £604,000 as part of its turnaround plan.

READ MORE: Forest of Dean graphene manufacturer to sell South Korean assets

Now the company, in line with its new strategy to monetise intellectual property through licensing, has entered into a manufacturing licence agreement and a know-how licence and technical assistance agreement with Montana Química LTDA.  

Montana is a Brazilian headquartered multinational business focused on the production and sale of paints, wood preservatives and other wood finishing products including stains and varnishes. The agreements cover the use of certain of the Company's proprietary graphene and related material dispersions and formulations (Graphinks™) in products to be manufactured and sold by Montana in South America, together with Versarien providing further additional know-how, technical assistance and training to Montana.

Versarien has granted a licence to Montana for five years. Montana will pay Versarien initial fees of £50,000 in March 2024 in consideration of the know-how and technical assistance, including training, to be provided. Once Montana commences manufacturing under the Agreement, a further payment of £25,000 will be due to the Company, together with an amount equal to five per cent of the total sales revenue earned from products manufactured using Versarien's intellectual property and know-how subject to minimum Royalty payments of £25,000 per annum.

Dr Stephen Hodge, CEO of Versarien, said: "The Agreements with Montana are in line with Versarien's strategy to be a manufacturing-light business in the UK and licence our patents, know-how and other intellectual property to key partners.  We are very pleased to be partnering with Montana, a leading business in its markets in South America, and look forward to collaborating closely with them as they bring products enhanced by Versarien's technology to the market."

Andreas von Salis, CEO of Montana,added: "The Agreements with Versarien give Montana the opportunity to capitalise on the growing markets for graphene in Brazil with the intention to utilise graphene in application areas such as paints, coatings and lubricants."