(Yicai Global) Nov. 12 -- Tunghsu Optoelectronic Technology, China's largest maker of liquid crystal glass substrates, has set up two partnerships to develop graphene technology and outline its commercial application.

Tunghsu Optoelectronic signed a memorandum of understanding with the UK's University of Manchester and Hong Kong's University Graphene to Market, or UG2M, as well as a separate MoU with British listed materials maker Versarien, the Hebei province-based company said yesterday.

Tunghsu will cooperate with the University of Manchester and UG2M, a graphene technology startup under the university, to evaluate the school's graphene and other related technologies and jointly plan how to make money from them. They will also coordinate resources to promote the industrialization of the university's graphene technology in China.

Meanwhile, the Chinese company and Versarien will jointly develop projects based on graphene, including operations, implementation, industrialization and project upgrading, to sell and explore more products that can use graphene in China and global markets.

"China has a huge market potential for graphene industrialization and commercialization," according to Tunghsu Chairman and Chief Executive Lipeng Wang. "As the leading enterprise in the graphene field in China, we are very pleased to work with Versarien to promote valuable collaboration and innovation, and ultimately achieve mutual success."

To accelerate commercialization, Tunghsu and Versarien aim to partner with others to establish a graphene research institute in China and set up an industry investment fund.

The two will further explore the feasibility of a bilateral strategic investment plan based on the graphene project. It is assumed that Tunghsu will provide needed financial and strategic support, while Cheltenham-based Versarienwill bring intellectual property and investment.

The MoU emphasizes that technical cooperation between the two parties will focus on sectors related to their main businesses, such as high-quality graphene material preparation, photoelectric display materials, new energy vehicles, light-emitting diode lighting systems, graphene thermal management materials and flexible batteries, the statement said.