High-value manufacturing in the UK has a major role in accelerating UK economic growth.
Versarien PLC (LON:VRS) was founded at the end of 2010 to commercialise an innovative process for making metallic foams developed at the University of Liverpool.
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.
Following its launch on the London Alternative Investment Market (AIM) in June 2013, the business is well-funded and has been able to acquire 2 businesses, Total Carbide Ltd and 2-D Tech Ltd.
It now employs 105 people across 4 subsidiary companies, Versarien Technologies, DV Composite Tooling and the 2 acquisitions.
