Versarien extends deal with Montana Quimica

(Sharecast News) - Versarien announced the extension of its existing commercial agreements with Montana Química on Friday, to broaden the use of its proprietary 'Polygrene' thermoplastic compounds in South America. The AIM-traded advanced materials group said the expanded agreements covered additional manufacturing rights, technical assistance, and training related to its graphene-enhanced products.

Under the revised terms, Montana would pay Versarien £25,000 for the provision of further know-how and support, with an additional £25,000 payable once manufacturing starts.

Versarien said it would also receive a 5% royalty on sales of any products made using its intellectual property, subject to a minimum annual royalty of £10,000.

The payments would be in addition to those already outlined in agreements signed in March 2024 and March 2025.

"We are very pleased to be extending our partnership with Montana, a leading business in its markets in South America that we have developed a close relationship with," said Dr Stephen Hodge, CEO of Versarien.

"We look forward to supporting Montana and its clients as they bring added-value products to the market utilising Polygrene thermoplastics."

At 1202 BST, shares in Versarien were up 25.39% at 0.02p.

Reporting by Josh White for Sharecast.com.