Latest news with #AndrewBradley
Irish Independent
22-06-2025
- Business
- Irish Independent
Solar 21 founders Michael and Andrew Bradley to pay stg£667k cash for former Solar 21 plant once valued at €100m
Fearghal O'Connor Today at 21:30 A Solar 21 power station – that it valued at over €100m just two years ago – is to be sold for stg£667,000 in cash to a company controlled by brothers Michael and Andrew Bradley, the founders of the investment firm. The sale of the Tansterne biomass plant was expected to be central to Rathcoole firm Solar 21's attempts to raise cash to pay back its investors. But the sale – which has been agreed but is pending approval – as part of a 'pre-pack administration' for a total sale price of €4m, including €3.3m of debt, is a major blow to thousands of Irish investors. The Bradley brothers' former investment firm owes its investors as much as €300m and GB-Bio itself – the Solar 21 subsidiary that holds the ownership of Tansterne and its potentially lucrative grid connection – owed its creditors £123m before it was placed in administration last week. Solar 21's former CEO Michael Bradley – originally from Achill Island in Co Mayo – had told the High Court in Dublin in 2023 that 'following completion of the relevant repair programme, the Tansterne biomass plant has the potential to be sold lo a market sector participant for approximately £96,527,000,' according to court documents. The investment firm had said at the time that it had an offer of £116m for the biomass plant. But Tansterne had been previously damaged by fire and was not operational. The High Court had given Solar 21 nine months to recommission the plant under the scheme of arrangement that was put in place. But recommissioning was unsuccessful and the sales process failed to find a buyer for GB-Bio and the Tansterne plant. That sales process, led by EY, generated just one offer – and this was made on condition of GB-Bio being sold via administration for £4m, according to company filings. The potential purchaser was believed to be interested in using the power station as scrap metal – but the value of scrap fell due to Donald Trump's tariffs, according to a well informed source. ADVERTISEMENT Learn more A number of months after the offer was made, it fell through – and on June 10, RSM was appointed administrator to the insolvent GB-Bio. Discussions between RSM and Andrew Bradley's Isle of Man-registered firm Green Zone Consulting (which continued to hold a charge over GB-Bio) resulted in a new offer from a firm called Teesside Green Energy Park Ltd. Filings to the UK's Companies House show that Teesside is owned by Michael Bradley and Green Zone, and its directors include individuals who had previously led the recommissioning efforts at Tansterne on behalf of Solar 21. Under the proposed sale, which is pending approval, Teesside is to pay stg£667,000 in cash, as well as availing of a further stg£3.3m in debt to be repaid to Andrew Bradley's firm Green Zone, bringing the full purchase price to €4m. 'GB-Bio is owned by Solar 21 Renewable Energy Limited (56pc, Republic of Ireland-registered), Green Zone Consulting Limited (34pc, Isle of Man-registered) and Jeremy and Stuart Saunt (10pc),' the administrator's proposal stated. 'Solar 21 Renewable Energy Limited is 100pc owned by Michael Bradley, and Green Zone Consulting Limited is 100pc owned by Andrew Bradley,' it stated.
Yahoo
15-04-2025
- Health
- Yahoo
Hospital among first to trial new electric bike
A hospital in East Yorkshire is one of the first NHS sites in England to trial a new electric bike. The quadracycle eCargo bike is being tested by the porter team at Castle Hill Hospital in Cottingham in partnership with East Riding of Yorkshire Council. It will be in use for a trial period of 12 months, carrying linen, gas cylinders, and other medical equipment and essentials across the site. If successful, the bike, which must be pedalled to gain assistance from the electric motor, will replace a van as part of a drive to reduce carbon emissions and operational costs. The project was funded by Active Travel England's Capability Fund. Marc Beaumont, head of sustainability at Hull & East Yorkshire Hospitals NHS Trust, said: "The eCargo bike is a fantastic addition to our fleet and will help to contribute to our net zero ambitions. "With its own solar field, Castle Hill is already leading the way when it comes to hospital sustainability, and we hope to use the electricity we generate ourselves to recharge the new eCargo bike batteries." Andrew Bradley, sustainable travel lead, net zero travel and transport for NHS England, said: "We hope this project will be the first of many, showcasing what is possible." Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here. New technology to help in brain tumour surgery Hospital waste creates new homes for wildlife Coastal town gets 'game-changing' ambulance e-bike Hull University Teaching Hospitals NHS Trust East Riding of Yorkshire Council
BBC News
15-04-2025
- Health
- BBC News
Cottingham hospital among first to trial new electric bike
A hospital in East Yorkshire is one of the first NHS sites in England to trial a new electric quadracycle eCargo bike is being tested by the porter team at Castle Hill Hospital in Cottingham in partnership with East Riding of Yorkshire will be in use for a trial period of 12 months, carrying linen, gas cylinders, and other medical equipment and essentials across the successful, the bike, which must be pedalled to gain assistance from the electric motor, will replace a van as part of a drive to reduce carbon emissions and operational costs. 'Leading the way' The project was funded by Active Travel England's Capability Beaumont, head of sustainability at Hull & East Yorkshire Hospitals NHS Trust, said: "The eCargo bike is a fantastic addition to our fleet and will help to contribute to our net zero ambitions."With its own solar field, Castle Hill is already leading the way when it comes to hospital sustainability, and we hope to use the electricity we generate ourselves to recharge the new eCargo bike batteries."Andrew Bradley, sustainable travel lead, net zero travel and transport for NHS England, said: "We hope this project will be the first of many, showcasing what is possible." Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
