Versarien announced its interim financial results for the six months ended 30 September, 2021. Revenues were £3.82 million (up 41% from £2.71 million in H1 2020), while reported net loss was reduced to £3.11 million (down from £4.34 million in H1 2020). At the end of the period, Versarien had £3.46 million in cash and equivalents.
The company is now focused on two main application areas, textiles and concrete - for which it sees excellent opportunities in the near future. Versarien is increasing its production capacity. It has recently acquired graphene manufacturing assets in Spain, which will provide an additional 100 annual ton capacity, it has ordered equipment that will enable it to increase graphene ink production capacity by 12,000 liters per year and it has signed a lease on a new dedicated graphene production facility in Gloucestershire.
