Birmingham BIO Power Limited (08145428): administration
- Status
- Administration ended
- Administration began
- 2020-06-04
- Administrators
- Geoffrey Paul Rowley, Anthony Steven Barrell
- Administrators' firm
- FRP Advisory
- Incorporated
- 2012-07-17
- Location
- London
- Industry
- 35110 Production of electricity
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated in July 2012 and owns a biomass plant (“the Plant”) which utilises waste wood to produce electricity. The Plant was built over a two-year period between 2014 and 2015 with electricity generation commencing in 2016. The Company operates from leasehold premises in Birmingham, United Kingdom.
The Company’s immediate parent entity is Tyseley Bio Power Ltd which is purely operated as a holding company. The Company is ultimately owed by Bio Energy Infrastructure Limited.
The Company’s senior secured lender is Gravis, who are owed approximately £33.2m through a combination of cross-guaranteed loan facilities with GCP Biomass 2 Limited and Legolas Debt Holdco Limited. Gravis have the benefit of fixed and floating charge debentures dated December 2013 and August 2018.
Administrators' statement of proposals (2020-08-13) · Companies House register