Versarien enters community building printing contract

(Sharecast News) - Advanced materials engineering company Versarien has entered into a contract with Building For Humanity CIC, it announced on Wednesday, to serve as a 'print partner' for the Charter Street project in Accrington, Lancashire. The AIM-traded firm said the project, led by the community interest company, aimed to develop 46 affordable homes and associated infrastructure, including a community hub.

It said the contract, valued at £0.2m, would involve Versarien providing 3D construction printing (3DCP) services at every stage of the project, from design through to construction.

Initially, Versarien said it would work closely with Building For Humanity and the design team to align the project's design with 3DCP parameters.

As the project progressed, Versarien said it would provide staff and full printing services for the construction phase.

This partnership followed a letter of mutual commitment previously signed by Versarien and Building For Humanity, and marked the formal start of the Charter Street project.

The first phase would focus on constructing one of the housing blocks and the community hub.

"We are delighted to be supporting Building For Humanity's Charter Street project using innovative 3DCP technology," said chief executive officer Dr Stephen Hodge.

"This initiative is the first 3D housing construction project in the UK and one ideally suited to the services we can provide.

"This project is a pivotal opportunity to showcase Versarien's capabilities in enabling low-carbon, efficient construction solutions, exemplifying our commitment to innovation and sustainability."

At 1054 BST, shares in Versarien were up 13.33% at 0.08p.

Reporting by Josh White for Sharecast.com.