The team behind M2 have launched Rocket, a new post company based in the same Berners Street building and staffed by 30 members of the original facility.

The new company has been set up independently of M2 and will be co-operatively managed by the individuals that make up its creative, technical and production departments. It will offer offline and online editing, grading and telecine, VFX and audio services, working in SD, HD and 2K.

Board director John Tadros has helped finance Rocket and remains in position. Colourists Vince Narduzzo and Ross Baker are also staying. Tadros said: “Our clients have been very supportive and although the market is still quiet, owing to fewer commissions, it is picking up. The new structure has really raised morale.”

M2 Ltd and Lime Corporation Ltd were put under the control of the administrators on 29 April.

Rocket has launched with a new service called Fab Tech technology which remasters old film footage directly from original A&B roll negatives rather than second-generation prints. The results of tests have won the team a major HD remastering project on an unnamed BBC drama soon to be released on Blu-ray DVD. M2 completed post on Poppy Shakespeare, and BBC's HD documentary series Earth: The Power of the Planet.