Rezatec Limited (07940023): administration
- Status
- Administration ended
- Administration began
- 2023-06-01
- Administrators
- Nicholas Holloway, William James Wright
- Administrators' firm
- Interpath Advisory
- Formerly
- Carbon Associates Limited
- Incorporated
- 2012-02-07
- Location
- London
- Industry
- 62012 Business and domestic software development
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 7 February 2012, headquartered in Didcot, United Kingdom. The Company’s principal activity was providing statistical, Big Data and Earth Observation analysis (known as Geospatial Artificial Intelligence). Their technology assessed potential physical and environmental hazards in locations which could threaten their clients’ physical assets.
The Company developed a user-friendly platform which allowed clients to remotely monitor physical and environmental hazards to their assets in a scalable and costeffective manner. The Company more recently offered a 3-year subscription model focussing largely on the North American market across 3 key sectors: Forestry, Pipeline Risk and Dam Monitoring. The Company had two wholly owned subsidiaries, Rezatec Global Inc (incorporated in USA) and Rezatec (UK Services) Limited (incorporated in the UK). These subsidiaries were incorporated in order to contract with key customers in certain jurisdictions.
Rezatec (UK Services) Limited is the operating company which holds the majority of the European commercial contracts and associated debtors. Rezatec Global Inc is based in the USA and holds the majority of the US commercial contracts.
Administrators' statement of proposals (2023-06-22) · Companies House register