A materials business supported by Innovate UK has moved in a few years from a garage start-up to become one of the UK’s fastest-growing companies.
Versarien was founded at the end of 2010 to commercialise an innovative process for making metallic foams developed at the University of Liverpool.
In the very early stages it won an Innovate UK grant to help it develop its technology. Since those early days, Versarien has worked on a number of further Innovate UK supported projects. It has resulted in rapid growth – from 2 people working out of a garage to a £5m business working on 4 sites and with a listing on the London stock exchange.
Neil Ricketts, founder and chief executive, said: "If we had not got that first grant, there is no way we would have been able to pursue that market or create jobs. It took the risk out for our shareholders and created a huge amount of validation. It said that we had something very good."
The business, based in Gloucestershire, specialises in commercialising advanced materials technologies and is now working with metal foams, graphene and extruded aluminium. It is targeting £6 billion global markets and expects to continue to grow.
It works closely with a number of universities, providing support and sponsorship to university departments and students and gaining access to some of the new materials technologies that are being developed.
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Versarien: developing material technology to go from pre-revenue to £5 million in 3 years funding circle requirements | |
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| Science & Technology | Upload TimePublished on 17 Jun 2015 |
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