Navetas Energy Management Ltd. (06700292): administration
- Status
- Administration ended
- Administration began
- 2015-04-21
- Administrators
- David Christian Chubb, Zelf Hussain
- Administrators' firm
- PwC
- Formerly
- Navetas New Co. Ltd
- Incorporated
- 2008-09-17
- Location
- Leeds
- Industry
- 70229 Management consultancy activities other than financial management
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
Navetas and ISE were incorporated on 17 September 2008 and 4 March 2008 respectively Swarraton Partners Limited loaned money to Navetas for which it received security by way of fixed and floating charges over all assets of Navetas which was registered on 26 March 2014.
The Companies operated a technology-focused busmess, creating a product which allowed their customers to monitor both their energy usage and sumultaneously compare the césts of various energy providers. The business and pnncipal product were referred to as ‘Loop’
ISE 1s a100% subsidiary of Navetas It was originally set up to research and develop disaggregation technology which resulted m a number of patents, but no commercialised product
Administrators' statement of proposals (2015-06-22) · Companies House register