Another deal has been announced by one of the most exciting engineering firms in Gloucestershire.

Hot on the heals of its recent tie-up with a leading tyre manufacturer to test products using its Nanene product, Versarien has revealed its latest deal.

The Cheltenham-headquartered listed company and advanced materials engineering group has signed an agreement with Luxus Limited.

Luxus plans to develop a UK graphene enhanced polymer supply chain to enable the production in volume of graphene enhanced plastics. Versarien being at the forefront of developing new markets for the much-heralded material.

"Today shows we are not only building a great company but a whole industry," said Neill Ricketts, the chief executive officer of Versarien and one of its founders.

For its part Luxus serves everything from the automotive, civil engineering, horticulture and waste sectors (to name but a few).

In short it manufacturers high quality thermoplastics from prime and recycled polymers and is the largest independently owned plastic manufacturer in the UK.

The firm plans to incorporate Versarien's wonder material graphene into polymers to enhance mechanical strength and other properties.

Versarien also has a contract with the Warwick Manufacturing Group which aims to develop the performance of graphene enhanced polymers on Versarien's behalf.

Mr Ricketts said: "We look forward to working with Luxus to ensure that a viable UK supply chain is established for the production of thermoplastics enhanced with Versarien's high quality graphene.

"The signing of this agreement is an important step in the commercialisation of graphene enhanced plastics.

"We are seeing strong interest from a variety of sectors in utilising the materials we are developing with WMG."

This new collaboration with Luxus is designed to ensure that the developed plastics can be produced at commercial scale for supply to injection moulding companies.