Solent Energy and Biofuels Ltd (06354529): administration
- Status
- Administration ended
- Administration began
- 2018-04-16
- Administrators' firm
- Begbies Traynor
- Formerly
- Seab Energy Ltd.; Solent Energy and Biofuels Limited; Channel Consult Limited
- Incorporated
- 2007-08-28
- Location
- Southampton
- Industry
- 28990 Manufacture of other special-purpose machinery n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
The Company is the inventor and developer of smail-scale waste-to-energy appliances. The award-winning and patented FLEXIBUSTER™ and MUCKBUSTER™ allows customers to process their own waste on-site and convert it into carbon-free electricity and heat, helping sites adhere to renewabie objectives while reducing the need for diesel-consuming waste transportation and grid reliability. The systems are factory-assembled and housed in standard shipping containers, enabling quick and low-cost delivery and easy installation. The process is fully automated and can be remotely monitored and controlled, allowing safe and simple Operation. The Company’s customer base includes Fortune 50 companies, hospitals, hypermarkets, non-profits and multinational property developers.
According to the directors, the Company was the first to market with a unique, highly mobile and containerised alternative to centralised waste processing based on micro-AD (Anaerobic Digestion). It took the patented FLEXIBUSTER™ and MUCKBUSTER™ to market in 2015, securing their position as market leader in the on-site micro-AD market. Since then, it has installed systems and secured sales in the UK, mainland Europe (Portugal, France), the US (New York, California, Minnesota), Brazil and Japan. In a short period of time, the Company has built a global network of agents and resellers.
The Company was insolvent as it was unable to pay its debts as and when they fell due as indicated by Amber obtaining a County Court Judgement and subsequently engaging High Court Enforcement Officers to enforce the judgement against some of the Company's assets. The primary reasons for the Company's insolvency were:
Administrators' statement of proposals (2018-06-21) · Companies House register