CO2Sense to end its consultancy work
CO2Sense has announced it is to cease consultancy operations next month.
The not-for-profit low-carbon expert company, which specialises in advisory and delivery services to sustainable development, said it has been offered ERDF contracts but cannot afford to cash flow them.
The business said it would have to spend the money before it could claim it back and its balance sheet is not strong enough to do so.
Launched in 2009, the former subsidiary of Yorkshire Forward will end ifs operations on August 9, resulting in the loss of 12 jobs and the Community Interest Company will move from its Marshall’s Mill premises in Leeds.
Chairman Barry Dodd said the closure is very disappointing.
He said: “The organisation has done some great work and we are all disappointed about it. We’ve all tried very hard to provide positive expertise and services at the heart of the community and in a not for profit way.
“We have cut our costs and done everything we can to carry on the business, so the decision to make was do we try to carry on or do we stop now? By stopping now, we can pay everyone their redundancy money, complete our contracts we have got and it can end in the nicest manner possible. You can’t take a chance in the public sector.
“We know we can win ERDF contracts, but we just can’t fund them.
“We have made a very good try to do it, but at the end of the day, cash is king.”
Mr Dodd said if a “white knight” shows up who is able to help the company, he will be happy to speak to them.
“One organisation has already come forward and said the closure is a tragedy. If we can get a few people to help, we will try to carry on and are happy to speak to anyone who can help,” he said.
Mr Dodd, who is also the chairman of the York, North Yorkshire and East Riding LEP and GSM Group chairman, said that without the organisation, it will be hard for the region to hit CO2 targets and will be hard for businesses to find unbiased support.
CO2Sense is seeking a £300k guarantor for the delivery of new publicly funded programmes.
The organisation will continue to manage its £11m investment portfolio in renewable energy.
