HVS was founded in September 2017 and, in effect, operated for just under seven years. The Glasgow-based company was a manufacturer and developer of fuel cell-powered electric vehicles. Following the initiation of insolvency proceedings, it has now been sold, according to a report in The Herald, which cited the insolvency administrators. The pre-pack deal was an agreed sale within the framework of insolvency administration to avoid complete liquidation.
What can be said about HVS? The company operated from leased premises in Glasgow and previously employed around 70 staff across research, engineering, development, administration, and finance. Its goal was to develop proprietary systems and technologies through partnerships, investor…