Versarien plc (LON:VRS) Chief Executive Officer Neill Ricketts caught up with DirectorsTalk to discuss their interim results
Q1: Now Neill, good news out this morning, can you talk us through the highlights of your interim results?
A1: Yes, sure. In terms of the interim results most of the activity has been post period but what we’ve demonstrated is significant commercial traction of the thermal products division, we’ve significantly reduced the operating expenditure by about 47% whilst maintaining the sales about the same and we’ve got about 130 customers testing. In terms of the 2-dimensional products, the graphene products, we’ve seen significant improvement and acceleration of our progress there which has resulted in the other RNS which I’m sure you’ll want to talk to me about in a second. In terms of our hardware, Total Carbide division, that’s had a really tough time over the last 12 months but we’re starting to see a significant improvement in conditions following its move into a new facility.
Q2: As you say, I do want to talk to you about the other RNS. It’s a significant graphene order, can you talk us through that?
A2: This is moving very very fast for us, 6 weeks ago we were contacted by The National Graphene Institute and we made an announcement at the time that we’d received our first significant order. That’s been followed up with this order today which is over £100,000 worth of graphene product which we believe to be the single largest order, definitely in the UK if not further afield, and puts us right on the road map for being able to roll out this technology for far more applications and far more customers.
Q3: How do you feel about the traction you’re seeing in the graphene side of the business?
A3: It’s an extremely exciting time. We’re seeing this move very much away for a theoretical advantage being talked about by academics to customer actually launching products using our technology. I don’t mind telling you that I’m having trouble sleeping at the moment and that every day is a massive challenge but an exceptional place to be.
