G24 Innovations Reportedly Sold Out of Administration

Posted on December 19, 2012 @ 09:47 am

According to a pubished report by WalesOnline.co.uk,G24 Innovations, a dye-based flexible solar cell specialist, has been sold out of administration to a group of private investors.

As a result, all 42 employees with remain with G24i, which WalesOnline.co.uk reports intends to resume production immediately at its 187,000 square foot facility in Cardiff.

Stephen Grant and Anthony Cork, licensed insolvency practitioners and partners of Wilkins Kennedy, were appointed administrators early in December. According to the report, Grant said that G24i’s high development costs led to the company running out of money.

"Now that a sale has been achieved, the business has a bright future ahead of it,” Grant said. “It has an excellent, innovative product range, and was already beginning to receive major orders before entering administration."


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