Vivarail announces intention to appoint administrators (RailAdvent)

Battery and hybrid train manufacturer, Vivarail, has announced it has filed a Notice of Intention to appoint administrators. Adrian Shooter CBE founded Vivarail in 2013 and the last 9 years have been spent investigating, trialling and developing battery technology.

This research has also seen the development of the Fast Charge system, which is able to re-charge a battery-powered train in just ten minutes. This is set to come to fruition in 2023 when Vivarail’s Class 230 will enter service on the West Ealing to Greenford service with its Fast Charge equipment.

The company has had the financial support of a sole investment partner – however, Vivarail’s board of directors had agreed to operate without reliance on more funding in early 2022. Since that decision, the Board of Directors have approved a sale process and have worked to attract new investors. Although Vivarail has had a ‘positive level’ of interest. the Board has had to file a Notice of Intention to appoint Administrators with the courts, which took place on the 23rd November.

Steve McBride, Managing Director of Vivarail, explained: “The Board and I have worked incredibly hard to secure new investment in recent months, and although we have been encouraged by the level of interest, time is now against us to allow potential investors to step in. Combined with slow market conditions and delays in reaching certain key commercial arrangements we have had no choice but to file a Notice of Intention to appoint Administrators with the Courts.

The next few weeks undoubtedly represents a degree of uncertainty for everyone connected to Vivarail, including our 70 employees who have shown incredible commitment and dedication to decarbonising our railway. During this time Management, the Board or Directors and our advisors will leave no stone unturned in finding a solution. We will now be consulting with our customers and other stakeholders to try and drive the business forwards, but we must be realistic in that if we are unable to deliver a rescue package Administration will unfortunately be inevitable.”