Advanced engineering materials firm Versarien has entered administration this January 2026, with its assets set to be sold and trading of its shares on the Alternative Investment Market suspended.
Despite efforts to streamline its operations and secure new investment in recent years, the Longhope-based company revealed its intention to appoint administrators last month, following a period of uncertainty surrounding its future.
The Gloucestershire Plc, specialising in the production of 'wonder material' graphene for the construction and textiles sectors, was co-founded by well-known local business figure Neill Ricketts in 2010.
A major grant from Innovate UK in its early years led to rapid growth, which included its listing on the London stock exchange.
But in 2023, it revealed slower-than-hoped-for progress in unlocking graphene's commercial potential due to global economic conditions, though it remained optimistic for the future after reporting an increase in turnover. Neill Ricketts then resigned from his role as CEO just weeks later.
The latest statement from the company says: 'Following the company's announcement on 19 December 2025 that a second Notice of Intention to appoint administrators had been filed in the High Court of Justice, the company now confirms that it has today appointed Andrew Knowles and Andrew Poxon of Leonard Curtis as joint administrators of the parent company, Versarien Plc.
'Following their appointment, the joint administrators will continue to look to conclude a transaction for the sale of Versarien's remaining assets, comprising primarily its patents and trademarks, together with its shareholdings in Total Carbide Limited and Gnanomat SL which continue to trade as solvent businesses.
'It is not expected that the administration process will result in any returns to Versarien shareholders.
'As a result of the appointment of administrators, SP Angel Corporate Finance LLP has resigned as nominated adviser and broker to the company with immediate effect.
'The company's ordinary shares remain suspended from trading and, pursuant to AIM Rule 1, if a replacement nominated adviser is not appointed within one month, the admission of the company's ordinary shares to trading on AIM will be cancelled.'
The firm says that further announcements about the process will be made in due course.
