TIDMVRS
Versarien PLC
01 November 2021
RNS Reach - Non-Regulatory
Versarien plc
("Versarien" or the "Company")
Consortium led by Westfield Sports Cars Ltd wins the backing of
the Department for Transport
2-DTech, CPI, Westfield Technology Group join forces to support
the development of a Pseudo-Capacitor technology aimed at zero
emissions for port-side infrastructure.
Monday 1 November 2021, London: The Department for Transport in
partnership with Innovate UK, part of UK Research and Innovation,
has announced that project SUPPORTIVE has been awarded GBP652,000,
of which 2-DTech Limited (a subsidiary of Versarien plc) will
receive GBP93,000, in funding to develop an innovative Asymmetric
Pseudo-Capacitor power pack. The objective is for this pack to be
used in container shuttles, vehicles that transport shipping
containers, at ports all over the world. Currently these vehicles
are powered by diesel engines and are a sizable hurdle when it
comes to transitioning maritime infrastructure to zero emissions by
2050. This award is part of the UK's Clean Maritime Demonstration
Competition Strand 2.
The aim of this funding is to support the design and development
of technologies for the reduction of greenhouse gas emissions by
the UK's maritime sector as set out in the Clean Maritime Plan and
support the transition to Net Zero by 2050.
There are currently two technologies used to power electric
vehicles: lithium-ion batteries and supercapacitors. Li-ion
batteries can store large amounts of electrical energy but
typically have low power output, slow charging times and relatively
short battery life. Supercapacitors, on the other hand, supply huge
amounts of power, charge very quickly and last almost indefinitely.
However, the relatively small amount of energy they hold quickly
drains and severely limits the range of a vehicle.
The new SUPPORTIVE pseudo-capacitor technology is designed to
charge quicker than supercapacitors, whilst also providing a higher
power-capacity, and longer life-span than lithium-ion
batteries.
Julian Turner, CEO of Westfield Sportscars Ltd says : "We are
really excited to be working with our partners 2-DTech, CPI and
Milford Haven on this project; it will bring ground breaking
technology from the automotive and aerospace sectors to the marine
industry. The partners have a mutual technology vision which will
pave the way for a blueprint initially for all ports across the UK
and then further afield. The consortium is delighted to be working
with Belfast Harbour and the Port of Antwerp as non-funded partners
on the project, bringing with them vast amounts of knowledge for
trial sites, technology introduction to enable the scale up."
Neill Ricketts, CEO of Versarien comments: "Over the last few
years 2-DTech has been working with Gnanomat to develop and supply
graphene/transition metal oxide hybrid materials for use within the
supercapacitor industry. We are really excited to have the
opportunity to go one step beyond supercapacitors and move the
asymmetric pseudo-capacitor tech we have developed into a
real-world application. As the world transitions away from
fossil-fuel reliant technologies and works towards a zero emissions
future, pseudo-capacitor technology has the potential to play a
significant role in making a renewable energy future reality."
Dr Tony Jackson, Business Unit Director, Formulation, CPI, adds:
"We're delighted that the SUPPORTIVE project is being backed by the
Department for Transport. As a cleantech innovation partner, CPI
has a long history of translating bright ideas into new sustainable
products and manufacturing processes. The Asymmetric
Pseudo-Capacitor power pack developed through the SUPPORTIVE
project will drive the next-generation of clean transport power and
support net zero emission targets."
Versarien
Neill Ricketts, CEO
Chris Leigh, CFO +44 (0) 1594 887204
SP Angel Corporate Finance (Nominated Adviser
and Joint Broker)
Matthew Johnson, Ewan Leggat, Adam Cowl +44 (0)20 3470 0470
Berenberg (Joint Broker)
Mark Whitmore, Ciaran Walsh +44 (0)20 3207 7800
Yellow Jersey (Investor Relations)
Charles Goodwin
Henry Wilkinson
Versarien@yellowjerseypr.com +44 (0)774 778 8221
Champion Communications
Versarien@championcomms.com +44 (0)20 7030 3818
Notes to Editors
About Versarien :
2-DTech is part of Versarien Plc (AIM:VRS), an advanced
engineering materials group. Leveraging proprietary technology, the
Group creates innovative engineering solutions for its clients in a
diverse range of industries.
For further information please see: http://www.versarien.com
About Westfield:
Westfield Technology Group is the parent company of Westfield
Sportscars and Westfield Autonomous Vehicles. Westfield Sportscars
Limited is one of the UK's leading hand-built sports car
manufacturers that is still British owned and family run. The
company based in Kingswinford in the West Midlands, manufactures
self-assembly or factory-built sports cars.
Westfield was established in 1983 and has sold over 20,000 cars
worldwide and currently produces over 200 cars a year for driving
enthusiasts the world over.
Models include the Chesil Speedster and E Version based on the
Porsche 356, the Sport and the retro classic Westfield Eleven
Sportscar that is based on the Lotus Eleven racer of the 1950s.
www.westfield-sportscars.co.uk
The company uses an international network of nineteen dealers
throughout Europe, the Middle East, Africa, Australasia, the
Americas and Asia Pacific.
Westfield Autonomous Vehicles is one of the UK's leading Pod and
autonomous technology producers, it is the UK's first fully
autonomous vehicle for first mile - last mile transportation. The
Pod has been developed in conjunction with Heathrow Airport and
utilises the base technology platform from the work completed by
ULTra PRT (Personal Rapid Transit). The original system has now
completed over 7 million kilometres in a live commercial
environment serving Heathrow Airport Terminal 5 POD Parking.
For further information please visit http://westfieldavs.com
About CPI
CPI works with partners to translate inventions into products
and processes that enhance health and wellbeing, protect and
improve our environment and increase productivity across
industries.
With a deep understanding of technology foresighting, innovation
processes and funding, outstanding technical expertise and
industry-relevant assets, it enables the accelerated development of
transformational products and processes that have the potential to
disrupt and revolutionise markets. We also engage in incremental
technological innovation that allows established products and
processes to be optimised for better performance and efficient
manufacture.
Through the breadth of its technology platforms, the CPI
supports partners across many diverse markets, including
pharmaceuticals, specialty chemicals, food and drink, electronics
and transportation.
www.uk-cpi.com
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END
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November 01, 2021 03:00 ET (07:00 GMT)
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