Graphene was first created in 2004 by two researchers at the University of Manchester and was hailed as the greatest British invention since the steam engine.
Professors Sir Andre Geim and Sir Konstantin Novoselov shared the Nobel prize for Physics in 2010 for their work discovering the super-strong, super-light carbon material which was set to revolutionise everything from aircraft to smartphones and even condoms.
But progress has been slow despite the Government pledging £22 million to making the product a commercial reality back in 2012.
Neill Ricketts, Chief Executive at graphene maker Versarien plc (LON:VRS), said: “We’ve definitely seen graphene go through the hype cycle. There were huge expectations, followed by disillusionment and now people are much more sober.”
Versarien — which uses graphene in a number of manufacturing processes — was founded in 2011 and listed on AIM in June 2013 with a £10.2 million market capitalisation.
Interest in the stock was minimal as the company went through rigorous testing processes for its products.
Then, in November, shares shot up, thanks to partnership announcements and a successful £2.9 million fundraising to aid expansion.
