Quantuma appointed administrators for Carbon8 Systems

Quantuma has been appointed administrator to Carbon8 Systems after the Greenwich-based cleantech firm was unable to secure the funding it needed to continue trading. 

Managing director Chris Newell and director Jo Leach were named joint administrators on 12 November.

Quantuma had first been instructed by the board on 30 April to provide advisory support as the business faced cash flow difficulties while seeking external investment. 

With no agreement reached within the required timeframe, directors resolved to place the company into administration.

Carbon8 Systems, founded in 2006 as a University of Greenwich spin-out, developed Accelerated Carbonation Technology, a patented process that captures carbon dioxide and converts it into carbon-negative aggregates sold under the CircaBuild brand. 

Its CO₂ntainer system offers on-site carbon capture and treatment for industrial residues across sectors including cement, steel, energy-from-waste and biomass.

The company’s main site at the University of Greenwich’s Medway campus and premises at Wraxhalls will close. Eleven staff were made redundant on 10 November, shortly before the appointment.

Newell said: “It is always difficult to see a company with such innovative intellectual property be placed into administration. I expect there to be strong appeal in the assets and any parties interested in the acquisition of the IP are welcomed to make contact with us.”