Forest of Dean advanced materials engineering group Versarien plc has announced a new deal to take its products into the Americas.

The Longhope-based innovator said it is "thrilled to announce a groundbreaking sales agreement that will bring our cutting-edge Graphene-Wear products to the vibrant markets of Colombia, Brazil and USA."

A statement added: "We are delighted to join forces with Go to Gym Sportswear as a Service, led by a dynamic leader in Juan Manuel Goenaga with a passion for innovation and a commitment to excellence."

Graphene-Wear products, the company said, are "not just clothing – they're a leap into the future! Engineered with the latest graphene technology, they offer unparalleled comfort, durability, and performance."

Progress in 2024 through North and South America follows Versarien's success in a recent commercial agreement with Brazilian sports and activewear manufacturer BiaBrazil, the details of which saw the integration of Versarien's Graphene-Wear technology into a new range of women's and men's activewear garments.

Athletes accessing Versarien products are able to experience enhanced thermal transmittance, increased moisture management and faster drying rates.

The news signals a positive start to the year for the business. Shortly before Christmas, Versarien PLC cautioned investors that an anticipated sale of its South Korean assets would not be expected until 2024, with a forecast that the sale would raise less upfront cash than first thought.

The company, in a statement, called a new general meeting for a shareholder to enable changes to its capital authorities, so that it coiuld have greater flexibility to raise additional funds.

A spokesman told media: "The company continues to pursue its stated turnaround strategy and it is the view of the board that the company now has a pipeline of opportunities that could result in an improvement in the financial condition of the company in the short to medium term."

It added: "The sale of assets remains an integral part of the turnaround strategy, but fundamentally, the board now has sufficient confidence in the business pipeline to seek the authority to issue further equity to bridge the funding gap to profitability."