An engineering group has confirmed that it is in talks to acquire graphene specialist Versarien plc after it served a notice of intention to appoint Leonard Curtis as administrators this week.

Versarien plc has been close to administration throughout 2025 and said in late September that it would run out of cash by November.

It looked set to be saved as a fellow listed company agreed a provisional £200,000 takeover deal in October – and that company has now been revealed to be Time To ACT.

That deal fell through, but talks are ongoing following Versarien’s update earlier this week.