Faraday Grid enters administration, dashing hopes of UK pilot project

Madeleine Cuff
clock
Faraday Grid founder and CEO Andrew Scobie | Faraday Grid
Image:

Faraday Grid founder and CEO Andrew Scobie | Faraday Grid

High profile energy technology company calls in Grant Thornton as administrators after failing to secure project funding

The much-hyped energy transformer company Faraday Grid has collapsed with administrators Grant Thornton appointed to take control of the business, it emerged this week. Despite securing a £25m cash...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech developments
  • Stay in the know with our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Tap into our extensive archive of exclusive articles, news, analysis and guides
  • Access our Intelligence Reports and exclusive data-rich studies on business-critical aspects of the green economy (BG Advanced members only)
  • Choose from 3 paid membership levels or start a 7-day no strings trial

Join nowTry 7 day trial

 

Already a BusinessGreen member?

Login

More on Investment

Government to spend £1.5bn on UK home efficiency upgrades ahead of winter

Government to spend £1.5bn on UK home efficiency upgrades ahead of winter

Around 130,000 low-income households could see bills slashed as homes receive energy efficiency upgrades through the government's Help to Heat funding

clock 29 September 2022 • 6 min read
Credit: iStock

Businesses 'unaware' of their pensions' climate impact, research finds

Research from Make My Money Matter and Scottish Widows finds staff increasingly want their employers to offer sustainable pensions

Stephanie Baxter
clock 29 September 2022 • 3 min read
Smart use of EV batteries will help manage peak demands for energy, National Grid predicts.

Net Zero Festival: Firms urged to put data at the heart of decarbonisation strategies

'You need to start with data', sustainability leaders from National Grid and Schneider Electric urge companies

clock 29 September 2022 • 2 min read