Oxfordshire company had been developing advanced hydrogen energy storage
A pioneering Oxfordshire company which has been developing advanced hydrogen energy storage has fallen into administration.
Chris Newell and Frank Wessely, partners at corporate recovery and business advisory firm Quantuma, were appointed joint administrators to Cella Energy Ltd on Thursday 1 February.
The company is based at Building 148, Sixth Street, Harwell Campus, Didcot, in Oxfordshire. All 12 staff have been made redundant.
Cella Energy Ltd was established in April 2014 and specialised in the development of advanced hydrogen storage material. It aimed to develop bespoke power systems with three times the specific energy compared to Lithium-ion batteries.
Chris Newell said: ““Unfortunately, due to funding issues, the company has had to cease trading and be placed into administration.
“Cella Energy Ltd has significant patented intellectual property which we will now look to sell, and we are inviting interested parties to make contact.”
The idea for the business came in 2011 as a spin-out from the Government’s Science and Technology Facilities Council.
The aim was to build a company around a novel hydrogen storage material that is stable and safe to handle at room temperatures but releases large quantities of hydrogen when heated above 100 degrees centigrade.
The business had reached the point of developing two demonstration power supplies, one for an unmanned aerial vehicle and the other for automotive or aerospace applications.
Businesses interested in discussions on acquiring the patented intellectual property should contact Chris Newell on firstname.lastname@example.org
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Notes to Editors
Quantuma LLP is a leading corporate recovery and business advisory practice delivering partner-led solutions to businesses and individuals facing financial distress with offices in London, Southampton, Marlow, Watford, Brighton, Bristol, Manchester and Birmingham.