Willand Biogas’ plant by the Somerset border has entered administration, having failed to secure funds to rescue its operation.
Accounts for 2022 showed it was more than £23 million in debt, as well as a £38.75 million loan.
Administrators at London-based restructuring and recovery specialists Moorfields Advisory Ltd are attempting to sell the leasehold of the business’s plant at Cullompton. The company’s most recent accounts for 2022 showed it was more than £23m in the red and had a £38.75m loan.
The site was infamous for a fatal incident when Carl Parsons, a plant worker, died at the facility.
According to an inquest, major health and safety failings led to his death. A jury returned a conclusion of accidental death.
Andy Pear, a partner at Moorfields, said: “Unfortunately, the operator of the plant ran into difficulties and the LLP was not able to obtain the necessary investment to keep the site operational. Moorfields is now holding the site in standby mode whilst a buyer is sought for the facility.”
“The site provides a great opportunity for an onward purchaser to operate a fully operable biomethane to grid plant in a short period. All required equipment is on location with attachment to RHI (renewable heat incentive) accreditation. In addition, the site provides opportunity for growth with space for an additional four to six additional digesters.”
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