GNA, based in the Parque Cientifico Madrid, Spain, is capable of utilizing Versarien’s graphene products in an environmentally friendly, scalable production process for energy storage devices that offer high power density, almost instant recharging and very long lifetimes for use in electric vehicles and portable electronics products.
The consideration for the acquisition is £2,647,000. The cash component of the consideration will be used by GNA to provide funding for the scale-up of a pilot plant. The acquisition will also provide Versarien with a center of excellence for graphene-enhanced energy storage devices in Europe. Roberto Clemente, GNA’s CEO, will continue to run the business on a day-to-day basis.
For the year ended Dec. 31, 2017, GNA’s unaudited financial results show net assets of €325,000 and a loss before tax of €26,000.
“The incorporation of graphene into energy storage devices has the possibility to radically enhance their capabilities, meeting the demands to increase power density and reduce charging times for everything from handheld devices to electric cars,” said Neill Ricketts, CEO of Versarien. “GNA are at the forefront of developing this technology. “In addition, the acquisition will provide Versarien with a European center of excellence in addition to our existing graphene operations in Manchester and Cambridge, further enhancing our capabilities and access to research facilities and funding as we strive to be at the very leading edge of the commercialization of graphene.”