Versarien has announced the completed sale of its wholly-owned subsidiary AAC Cyroma to Harper Bennett for £0.55 million (around USD$734,000).

Versarien said the sale aligned with its strategy to focus on its core graphene technology and divest its more mature businesses. It said the consideration would be paid in 16 equal quarterly instalments of £34,375, starting three months after completion. To safeguard the transaction, Versarien would retain a charge over AAC Cyroma's assets and those of Harper Bennett until all payments were completed.