“Future of construction” firm in administration
AI Article Summary
Graphene firm Versarien, known for its Cementene concrete admixture that enhances strength and reduces carbon, has entered administration. Efforts to sell the company were unsuccessful, leading to its administration under Andrew Knowles and Andrew Poxon from Leonard Curtis. The company had been facing financial difficulties, despite its innovative work in construction technology, and negotiations are ongoing with interested parties for potential acquisition.
What This Means for Canadian Contractors
For Canadian builders, this highlights the challenges of introducing innovative materials while maintaining financial viability. The case of Versarien exemplifies the risks involved in pioneering new technology without sustainable financial backing. Canadian contractors may consider thorough economic evaluations and stable partnerships when integrating such innovations into their projects.
