Diverse Energy Limited (04223296): administration
- Status
- Administration ended
- Administration began
- 2012-10-09
- Administrators' firm
- BDO
- Formerly
- Diverse Energy (UK) Limited; Aranzone Limited
- Incorporated
- 2001-05-25
- Location
- Gatwick
- Industry
- 27110 Manufacture of electric motors, generators and transformers
From the administrators' statement
The Company, which operated from leasehold premises in Horsham, West Sussex, was incorporated on 25 May 2001 to further research and development into clean tech energy solutions for the telecommunications market The Company employed ten staff in the UK at the time of appointment.
The Company had performed extensive development testing of its products in the UK and Afnca and was reliant on government grant and equity funding for its working capital The management team carefully monitored the monthly cash requirement and had obtained ad hoc capital injections from the equity holders where shortfalls where identified
The next phase of development should have resulted in full commercialisation of the product, and in the latter months of 2011, the directors commenced a round of fundraising to provide sufficient working capital for that phase Working alongside a specialist corporate finance firm, the directors entered into protracted negotiations with an interested party
Administrators' statement of proposals (2012-12-03) · Companies House register