16th Nov 2021 14:23
(Alliance News) - Versarien PLC on Tuesday said it has partnered with Superdry PLC to produce "graphene-enhanced" garments.
Shares in Versarien were up 19% at 36.31 pence on Tuesday in London.
The Cheltenham-based advanced materials engineer has entered a commercial collaboration agreement with Superdry's wholesale distribution subsidiary DKH Retail Ltd.
The partnership will involve Superdry's production of "graphene-enhanced" garments, using Versarien's graphene wear technology. The clothes will look to "exploit the thermal regulatory properties" of the technology.
Superdry stated that it believes using graphene technology will lead to product lines with improved performance, an extended lifespan and a lower environmental impact, Versarien said. Furthermore, Superdry hopes access to Versarien's scientists and laboratories in Manchester and Cambridge will accelerate the brand's "innovation platform."
"We are delighted that Superdry has publicly announced our collaboration. Since we started working with Superdry we have developed a number of sample garments and its decision to announce the collaboration and the future launch of the products we are developing together is, I believe, testament to the benefits they see in utilising Versarien's graphene technology. We look forward to continuing to work with Superdry to bring these innovative garment ranges to the market as soon as possible," Versarien Chief Executive Neill Ricketts commented.
Superdry shares were down 0.8% at 296.14p.
By Abby Amoakuh; [email protected]
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