Versarien subsidiary 2-DTech gets grant from Advanced Propulsion Centre

Advanced materials engineering company Versarien announced on Tuesday that its subsidiary, 2-DTech, has been awarded a grant of up to £104,000 from the Advanced Propulsion Centre (APC).

The AIM-traded firm said the award was part of APC's £1m-plus initiative to support 14 micro, small and medium-sized companies that are developing innovative low-carbon technologies to reduce vehicle emissions.

It said the grant funding came as part of a phased 18-month process through the APC's successful ‘Technology Developer Accelerator Programme’ (TDAP), which is one of its funding streams to support smaller organisations from concept to a viable commercial product.

In addition to the financial backing, 2-DTech would also benefit from additional support to help identify routes to market, protect intellectual property and validate its technology.

“TDAP has selected what it sees as the most exciting SME technological innovators in the UK, supporting the efforts of those most capable of delivering future solutions for zero emission vehicles,” said chief executive officer Neill Ricketts.

“Its support is a great endorsement of 2-DTech and the work it is doing to develop graphene-enhanced lightweight materials and powertrain structures.”

At 1617 BST, shares in Versarien were up 0.73% at 58.68p.