Pioneering graphene firm Versarien has filed a notice of intention to appoint an administrator.

The firm’s products include Cementene – a concrete admixture hailed as the “future of construction” which boosts strength and cuts carbon.

Versarien has trialled its products on HS2 and signed a deal with Balfour Beatty last year to work on new products.

But the AIM listed business confirmed this morning that its shares were being suspended while it seeks a buyer over the next ten days.

The company said: “During this time Leonard Curtis will seek to conclude a transaction with interested parties which may not necessarily result in administration. If a transaction is not concluded within this timeframe, the administration will proceed.”