Tradewind Turbines Ltd (06947301): administration
- Status
- Administration ended
- Administration began
- 2013-11-19
- Administrators
- Christopher Norman, Ian Walker
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2009-06-29
- Location
- Exeter
- Industry
- 35110 Production of electricity
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
The text in this section of the Proposals has been taken from the SIP 16 Statement sent to all known creditors on 22 November 2013
The Company was established in December 2009 It was formed to develop and bnng to market a new design for a small vertical-axis wind turbine utilising sailing technology The project was partially initrated and funded by the Centre for Defence Enterprise In addition to the turbine development, the Company had a precision engineering business which was acquired in January 2011
The Company was funded by private capital investment from management, pnvate investors and business angels totalling £13 millon, Additional finance of £600,000 was secured by !oans from government
Administrators' statement of proposals (2013-12-17) · Companies House register