Thursday, December 18, 2014

News: FireChill in liquidation


FireChill, an innovative green cooling and heating company that could have created hundreds of manufacturing jobs in Rotherham, has gone into liquidation.

FireChill began in 2009 when Regional Development Agency, Yorkshire Forward sought a UK-based marketing and distribution capability to set up a "go to market" vehicle for an innovative product developed by Cooltec in the US.

The proven, patented, heat-activated cooling technology reduces operating costs by up to 20% in traditional air conditioning applications and by up to 80% when integrated into a combined heat and power (CHP) system. The unit's low cost, low carbon technology provides a competitive advantage, particularly in areas which are hot, crowded, have plenty of gas and/or where the electricity supply is unreliable or expensive.

Phase 37, a private venturing and business support services company launched by Simon Clothier in Leeds, secured the global rights to Cooltec's existing and future intellectual property (IP), together with global manufacturing licences, and established FireChill.

After £1m was secured from a group of private investors in 2010, a joint venture called FireChill Manufacturing was created with Rotherham-based specialist engineering firm Newburgh Engineering and was responsible for the production of units. With the units set to be manufacturing at Templeborough, the investment was set to create 100 new jobs directly and many more in the supply chain.

Large contracts were secured but Clothier said in 2012 that it was "immensely challenging to secure the appropriate funding" in the UK.

Clough Corporate Solutions LLP were called in as joint liquidators in October 2014 and it was agreed that the company be wound up voluntarily.

FireChill website

Images: FireChill


Supported by:
More news...

  © Blogger template Newspaper III by 2008

Back to TOP