Advanced manufacturing firm unveils £5 million investment
Advanced materials manufacturer and all-round graphene guru Versarien has revealed it secured £5 million of funding.
The cash came from Innovate UK, a non-departmental public body which operates at an arm’s length from the Government as part of the United Kingdom Research and Innovation organisation.
Accessing the cash required the expertise of Cheltenham law firm BPE Solicitors and in particular its corporate team.
The award of the loan follows what The Raikes Journal was told was “a rigorous process of innovation assessment and is the first of such magnitude by Innovate UK”.
Apparently the £5m will fund Versarien’s G SCALE project and will enable the engineering group to significantly increase the manufacture of quality assured graphene.
Anthony Rudge, corporate partner BPE, led the team that advised Versarien on its loan agreement and related security.