Restructuring and recovery experts work to save wireless power pioneer Splashpower

One of the world's foremost wireless power technology businesses, Cambridge-based Splashpower, has today entered into administration, unable to secure the final tranche of its planned funding.

Restructuring and recovery professionals from leading mid-tier accountancy and business advisory firm Baker Tilly have put the business up for sale and are convinced that its substantial market potential will be recognised.

Baker Tilly partner and appointed administrator Graham Bushby explained:  “Splashpower was founded in 2001 and has grown to become a world pioneer in its area of expertise.  In recent months the company has made huge commercial progress, including the completion of its first sales contracts.

"With a highly skilled technical team developing ground-breaking products in a tremendously profitable marketplace, we are confident that we will be able to find a suitable buyer who recognises the market potential of wireless power."

Parties interested in purchasing the company should contact Graham Bushby at Baker Tilly's Milton Keynes office on 01908 687800.