Stricken 4Energy broken up as assets sold

Troubled Nottingham company 4Energy has been broken up just weeks after being placed into administration.

4NG Limited, the next generation industrial “Internet of Things” (IoT) company, has acquired SMARTset and SMARTstation IoT and other assets of 4energy, and has landed investment from industry names such including Foster Environmental, Upnorth Group Limited and AIT Partnership Group.

4NG says the new partnership will enable it to roll out SMARTset software and SMARTstation hardware to the UK and international markets.

SMARTset provides operational managers the tools to connect to any equipment, sensor or element of their built environment, irrespective of its protocol or vendor. It can analyse, predict, discover insights and centrally control remote equipment as well as provide alarms and alerts.

4NG managing director and founder Steve O’Hara said: “There is great potential for SMARTset & SMARTstation across technical estates: data centres, communication rooms, street furniture and the industrial built environment for SME’s. Our investors have strong relationships with customers in these sectors which will help drive the expansion of 4NG.”

Speaking on behalf of the new investors, Steven Bailey said: “We are all excited to join Steve O’Hara and the team on this journey. The customer benefits of the SMARTset and SMARTstation products are clear and we look forward to working closely with 4NG to bring their solution to customers in the UK and overseas.”

Administrators from Moorfields were appointed to 4Energy in mid-March. A statement on the company’s website read: “The business and property of 4Energy Limited are being managed by the joint administrators.

“The administrators are looking to sell the assets and business as a going conern, and interested parties should contact the administrators directly.

“4Energy Limited is continuing to trade for the time being and in the event that continued goods are required, the administrators will make contact with the suppliers concerned and provide appropriate undertakings.”

The website has since been taken down.

In its last available accounts, to 31 December 2015, 4Energy owed £1.66m to creditors.

Click here to sign up to receive our new South West business news...