Smart Innovations Grid Limited (07309284): administration
- Status
- Administration ended
- Administration began
- 2019-05-09
- Administrators
- Andrew Turpin, Matthew Douglas Hardy
- Administrators' firm
- Quantuma
- Incorporated
- 2010-07-09
- Location
- Birmingham
- Industry
- 27900 Manufacture of other electrical equipment
Why it went into administration
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 9 July 2010 and provided hardware and software services that monitored and measured the use of purchased electricity, gas, water and the use of renewable energy, harvested from wind turbines and solar panets, in order to allow its customers to measure all utilities usage, which reduced both cost and the inconvenience of installing multiple technologies.
The Company also offered an intelligent, automated power distribution system, which independently monitored and distributed the flow of electricity from its source to the consumer in order to achieve maximum energy efficiency.
Andrew Turpin first met with the QFCH, Green Energy Networks Lid (“GEN”), an associated company by virtue of shared Office Holders and members in November 2018, foliowing a referrai from their accountants, Tomkinson Teal. At that time, the Company was experiencing certain cash flow constraints and had been supported by cash injections from the QFCH, amidst a background where there was a potential that a sale of the Company’s shares could be achieved.
Administrators' statement of proposals (2019-07-10) · Companies House register