According to the research report, Versarien, the leader of global graphene market,  has signed a non-binding letter of intent (LOI) with Shandong Institute of Industrial Technology, Jinan Innovation Zone Management Committee and Jinan Qingna Materials Technology Co., Ltd. to set up “China-UK Jinan Graphene Industrial Park ” in Shandong Province, China. The total project cost is estimated at about 55 million pounds. 　　The initial goal of the project was to build a 9,290 sqm facility that would be able to produce and sell Versarien's advanced graphene products.
　　Experts speculate that the joint venture will have a significant impact on the share of the graphene industry in the region. The news further shows that with the growing demand for automobiles and electronic products, China’s  rich  graphite deposits prompt regional graphene companies to adopt attractive growth strategies to meet the rising demand for their products. 
　　It is learned that after achieving the initial goal of establishing 9,290 sqm facility, the company will enter the second phase of the goal, that is, building "Jinan graphene valley", which is composed of the graphene institute. Through it, the company will further pave the way for a world-class base in Asia-Pacific region.