- Advanced materials developer Versarien said it had signed an early-stage agreement with a subsidiary of China Railway Group.

The non-binding memorandum of understanding would the see the pair explore the applications for graphene specific to the Chinese group's need.

They would also consider options to jointly establish manufacturing capability in China for graphene-enhanced products.

Applications of graphene could include anticorrosive and fireproof coatings, heat conducting materials for temperature control, sensors, asphalt and specialist engineering plastics and rubbers.

'We are delighted to have entered into this MOU with a subsidiary of one of the world's largest construction and engineering contractors,' chief executive Neill Ricketts said.

'We have a strategy to develop a number of relationships with industry leading partners in China across the wide variety of sectors where the application of graphene can prove beneficial.'

At 9:15am: [LON:VRS] Versarien PLC share price was +1p at 121p

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