{"id":18060,"date":"2024-12-13T07:42:14","date_gmt":"2024-12-13T07:42:14","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/south-west\/?p=18060"},"modified":"2024-12-13T07:42:14","modified_gmt":"2024-12-13T07:42:14","slug":"versariens-debt-to-equity-swap-helps-spanish-subsidiary-secure-grant","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/south-west\/news\/18060-versariens-debt-to-equity-swap-helps-spanish-subsidiary-secure-grant","title":{"rendered":"Versarien’s debt-to-equity swap helps Spanish subsidiary secure grant"},"content":{"rendered":"

Versarien’s Spanish subsidiary Gnanomat has been awarded an \u20ac804,000 (\u00a3660,000) grant to finance a project relating to next generation energy storage devices.<\/p>\n

Earlier this year, Versarien had converted a \u20ac1.46m (\u00a31.21m) debt into shares to allow Gnanomat to apply for this grant. It had previously been unable to because of debt restriction rules.<\/p>\n

The grant covers 70% of Gnanomat’s anticipated costs for a 24-month project to elevate the technology readiness level of GnanoCaps, an eco-friendly energy storage device, that uses Gnanomat’s proprietary hybrid nanomaterials platform to create optimised energy storage solutions.<\/p>\n

Versarien chief executive Dr Stephen Hodge said: “Grant income is key to derisking R&D and unlocking the potential in Versarien’s technologies.<\/p>\n

“With GnanoCaps we have an energy storage technology that offers significant performance advantages over currently available solutions and has wide ranging applications.<\/p>\n

“I believe there is a significant potential for GnanoCaps to play a role in a wide variety of energy storage applications from next-generation electric vehicles to those in industrial and infrastructure areas, particularly those in ATEX (explosive atmospheres) environments.”<\/p>\n

The Grant is expected to be received as one single payment before the end of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

24-month energy storage project is now substantially funded<\/p>\n","protected":false},"author":18,"featured_media":16538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120785],"coauthors":[81],"class_list":["post-18060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","tag-featured-story"],"yoast_head":"\nVersarien's debt-to-equity swap helps Spanish subsidiary secure grant - South West<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thebusinessdesk.com\/south-west\/news\/18060-versariens-debt-to-equity-swap-helps-spanish-subsidiary-secure-grant\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Versarien's debt-to-equity swap helps Spanish subsidiary secure grant - 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