Aberdeen gas technology company enters administration

Thu, 15 Oct 2015 | ADMINISTRATION

Gas2, a technology business based in Aberdeen, has entered administration after failing to progress to the next stage of its development.

The company, which has received some £18 million worth of investment over ten years, has developed a technology that transforms gas to liquid. It is designed to maximise returns from mothballed or marginal gas fields but could also enable the distribution of gas as a liquid into remote areas.

Administrators Iain Fraser and Tom MacLennan of FRP Advisory have been appointed now and will be seeking buyers for the company's intellectual property and its other assets.

Mr Fraser commented: “We hope that an entrepreneur or business that recognises the potential will acquire these valuable assets and bring this exciting new technology to market.”

He added that the technology still has “significant market potential” noting the company has focused on “perfecting a new technology that has the potential to cause a seismic shift in the GTL [gas to liquid market]”, but the next stage is unclear until a buyer can be found.

Gas2 was born out of a relationship established with The Robert Gordon University which helped to advance the technology. It went on to secure funding based on the results of successful scientific tests and eventually took on a pilot plant site.


View the latest businesses in administration.


Share this article



Latest Businesses for Sale

Consulting Engineers Focused on the Built Environment
London, UK

Unusual opportunity to acquire this national and well established, full service Mechanical & Electrical consulting engineering company. Offers invited.

Asking Price: £2,700,000
Turnover: £5,800,000

LEASEHOLD


Freight Brokerage Services
UK Wide

Works with a network of reliable hauliers to provide comprehensive and reliable logistics solutions on a national basis. Offers invited.

Asking Price: Offers Invited
Turnover: £420,000

RELOCATABLE


Food Manufacturer Specialising Flatbread Products
North of England, UK Wide

Has established a prominent position with clients in its industry due to its prestigious portfolio. Operates from two leasehold premises. Offers invited.

Asking Price: Offers Invited
Turnover: £671,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
23
 
May
 

Fintech company Loot collapses into administration | ADMINISTRATION

After failing to secure further backing from the Royal Bank ...

 
22
 
May
 

Spike in M&A activity in the education sector | BUSINESS SALE

In recent months, the education sector in the UK has witness...

 
22
 
May
 

Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION

Celebrity chef Jamie Oliver, who shot to fame after campaign...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
05
 
Mar
 

Independent bathroom retailer enters administration | ADMINISTRATION

Thought to be the UK’s largest independent bathroom re...

 
21
 
Feb
 

Lakeside hotel enters administration | ADMINISTRATION

A historic but well-preserved hotel located on the banks of ...

 
16
 
Oct
 

Bloodhound Programme enters administration | ADMINISTRATION

The Bristol-based company that commissioned the project to b...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources