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LONDON - Versarien Plc (AIM:VRS) has extended its manufacturing and technical assistance agreements with Montana Química LTDA for Polygrene thermoplastic compounds in South America, according to a press release statement issued Friday.
The advanced materials group will receive an initial £25,000 for providing know-how, technical assistance and training to Montana. A further £25,000 payment will be due when Montana begins manufacturing products under the agreements, along with a 5% royalty on sales revenue from products using Versarien’s intellectual property, with minimum annual royalty payments of £10,000.
These payments are additional to those established in previous agreements announced in March 2024 and March 2025.
The extended agreements allow Montana to use Versarien’s proprietary graphene and related material thermoplastic compounds and masterbatches, marketed as Polygrene, in products manufactured and sold across South America.
"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, in the statement.
The deal represents a continuation of the relationship between the two companies that began with initial agreements announced on March 14, 2024.
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