Thu, 15 May 2014 | BUSINESS SALE
Ecotricity has bought Evance, a Loughborough-based wind turbine manufacturer, out of administration.
Evance appointed administrators at the start of the month and now Ecotricity, a provider of green energy solutions, has stated that it will take the company’s new "innovative windmill design" to market within the next 12 months.
Evance’s collapse into administration came despite the fact the company had sold almost all of the 2,000 small wind turbines it had produced for customers across the UK and overseas, including the US and Madagascar. Business Green reported that the problems arose after the Government announced it was cutting subsidies in the renewable energy source, in turn spooking investors and leaving Evance in financial disarray.
In a statement, Ecotricity said Evance was 90 per cent of the way through development and nearing the production of its new turbine design, which promises to improve efficiency and cut costs for small turbines. The buyers will now seek to complete the production of the new designs and have them on the market within a year.
Ecotricity founder Dale Vince has stressed that the Government must reconsider its u-turn on wind turbines. He stated: "All recent opinion polls, including the Government's own, show that two-thirds of people support wind energy as a way of powering Britain now and in the future.
"For the sake of an ideological opposition to renewable energy, this government is scaring off investment that is threatening to kill off Britain's small wind sector and drive green sector jobs, expertise and technology abroad. It's important that we don't let this happen."
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