Versarien’s just-published financial results show the Forest of Dean-based firm is continuing to grow and attract interest across a wide range of sectors.
A deal with the kit maker for England Rugby and Bristol Bears, football teams from West Ham United to Guatemala, and motor sports’ Williams Racing has helped boost turnover at a Forest of Dean firm to £7.6 million.
Umbro, the British sports brand, is the latest firm to partner with Versarien in a bid to benefit from its wonder material, graphene – a super-strong, light, versatile form of carbon.
According to Versarien, its Graphene-Wear™ allows sportspeople to cool quicker, with the material wicking away sweat faster, drying quicker and lasting longer.
Umbro will use Versarien’s Graphene-Wear™ technology in its Elite Pro-Training Kit range for its spring and summer collection 2023, with Colin Lomas, head of global product for Umbro, called the development a ‘major step forward’ in its product development.
The brand joins the likes of British Cycling and Cheltenham fashion house Superdry, with Versarien’s just-published interim results for the 12 months ending Thursday 31 March 2022 showing the impact of such deals on its bottom line.
Group revenue for the Forest of Dean-headquartered firm was up 34 per cent to £7.63 million, revenues for its graphene grew 170 per cent to £1.89 million, cutting its losses from £8.07 million in 2021 to £5.20 million.
Also highlighted in the firm’s results was its successful completion of a contract with the Defence Science and Technology Laboratory and the near completion of its GSCALE development projects.