Cientifica Rises 19.24% Following Exclusivity Agreement
Exclusivity Agreement Signed To Explore Graphene Energy Storage
Cientifica, the AIM listed investment company focussing on the acquisition of businesses making use of advanced materials, graphene and emerging technologies, announces that it has signed an exclusivity agreement with London Graphene Ltd (“LGL”) to jointly explore a number of applications of graphene in energy storage.
Under the terms of the exclusivity agreement, which currently runs until 30th April 2014, the two parties have agreed to work together in good faith to, inter alia:
(i) prepare a joint business plan to develop the technology for advanced energy storage applications;
(ii) seek to raise further funds to facilitate the execution of this business plan; and
(iii) negotiate terms for Cientifica and LGL to work together in the future. This may be, inter alia, through Cientifica acquiring or merging with LGL.
A further announcement will be made in due course.
Tim Harper, Chief Executive, Cientifica Plc commented:
“Energy storage is one of the world’s largest markets and as expected, graphene is being slotted into all the same applications in this arena that have long been targeted for nanomaterials. The partnership with London Graphene Ltd enables us to jointly explore a number of significant opportunities to which we can also bring Cientifica’s expertise in technology commercialisation”.
Stephen Voller, Chairman & CEO London Graphene Ltd commented:
“We are pleased to partner with Cientifica Plc in exploiting a number of energy storage opportunities. The partnership will allow us to bring the technology to market faster, and better leverage existing support from the Technology Strategy Board.”
About London Graphene
London Graphene Ltd was established in 2013 to develop advanced energy storage applications based on high quality graphene.
Graphene is a one-atom thick form of carbon with excellent electrical conduction properties and a very high surface area. London Graphene aims to significantly improve the performance of existing capacitors, batteries and fuel cells by integrating graphene into the designs.
London Graphene Ltd has been awarded a Smart Grant from the Technology Strategy Board (TSB).